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of <h1>LLPs are governed by the Limited Liability Partnership Act, 2008, not the Indian Partnership Act, 1932.</h1> The provisions of the Indian Partnership Act, 1932 do not apply to limited liability partnerships (LLPs) unless otherwise specified. This distinction is established under the Limited Liability Partnership Act, 2008, which governs the formation and operation of LLPs, highlighting their unique nature compared to traditional partnerships.
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