https://www.taxtmi.com/acts?id=10295 Creates the Limited Liability Partnership as a separate corporate entity with perpetual succession where partners' liability is limited to agreed contributions except for fraud; mutual rights are governed by partnership agreement subject to statutory defaults; requires at least two partners and two Designated Partners (one resident in India); mandates annual accounts, filing of statement of accounts and solvency, and audit subject to exemptions; empowers government inspections and limited application of Companies Act provisions; allows conversion, merger, amalgamation and prescribed winding up procedures. en-us Fri, 07 Nov 2008 17:19:27 +0530 Fri, 07 Nov 2008 17:19:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=10295 Creates the Limited Liability Partnership as a separate corporate entity with perpetual succession where partners' liability is limited to agreed contributions except for fraud; mutual rights are governed by partnership agreement subject to statutory defaults; requires at least two partners and two Designated Partners (one resident in India); mandates annual accounts, filing of statement of accounts and solvency, and audit subject to exemptions; empowers government inspections and limited application of Companies Act provisions; allows conversion, merger, amalgamation and prescribed winding up procedures. Act-Rules Bills Fri, 07 Nov 2008 17:19:27 +0530 https://www.taxtmi.com/acts?id=10295