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of <h1>Section 11 of LLP Act 2008: Two subscribers needed for LLP incorporation; false statements lead to fines and imprisonment.</h1> The Limited Liability Partnership Act, 2008, Chapter III, Section 11 outlines the requirements for incorporating a limited liability partnership (LLP). It mandates that at least two individuals must subscribe to an incorporation document for a lawful profit-oriented business. This document, along with a prescribed statement from a qualified professional, must be filed with the state Registrar. The incorporation document should include details such as the LLP's name, proposed business, registered office address, and partner information. False statements in this process can lead to imprisonment for up to two years and a fine ranging from ten thousand to five lakh rupees.
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