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of <h1>LLP Recognized as Separate Legal Entity with Perpetual Succession Under Limited Liability Partnership Bill, 2008</h1> A limited liability partnership (LLP) is established as a body corporate under the Limited Liability Partnership Bill, 2008, and is recognized as a legal entity distinct from its partners. It enjoys perpetual succession, meaning its existence is not affected by changes in its partnership composition. The rights and liabilities of the LLP remain intact regardless of any alterations in the partners involved.
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