The book “Law and Practice of Limited Liability Partnership” is a veritable, section wise commentary on the Limited Liability Partnership Act, 2008 which gave birth to a new form of legal entity which combined the organizational flexibility with limited liability of its partners. As the subject is new and precedents are yet to be developed, the book is illustrated by the precedents drawn from the partnership and the companies ‘laws as also from the precedents from foreign courts. The book is divided in 34 Chapters and 8 Annexures. At end of the book given Subject Index and List of Case Laws.
Chapters 1-4 are introductory chapter’s whichdeal with historical back ground, an overview of the Act, a brief survey of the Partnership and the Companies Act
Chapter 5 explains the preamble and various definitions
Chapter 6 deals with the nature of the limited liability partnership
Chapter 7, The Indian Partnership Act, 1932 does not apply to the limited liability partnership.
Chapter 8 explains eligibility and appointment of designated partners, their function and role, rights and obligations
Chapters 9 and 10 explain the procedure for incorporation andregistration and allotment of name
Chapters 11, 12, 13 and 15 deal with partners, their relations, liabilities, contributions, and, assignment of their rights
Chapter 14 deals with financial disclosures
Chapters 16, 19 and 20 deal with investigation, compromise, arrangement and reconstruction
Chapter 17 explains the procedure for conversion of a firm and a company to the limited liability partnership
Chapter 18 deals with foreign limited liability partnership
Chapters 21, 22, 23 and 24 deal with winding up and dissolution
Chapters 25 to 32 deal with miscellaneous matters, such asappeals, penalties, rules making, etc.
Chapter 33 explains interpretative principles
Chapter 34 deals with taxation aspect
Annexure 1 to Annexure 8-
Annexures 1: Limited Liability Partnership Act, 2008
Annexures 2: Statement of Objects and Reasons – LLP
Annexures 3: Notes on Clauses – LLP
Annexures 4: Limited Liability Partnership Rules, 2009 and Forms under LLP
Annexures 5: Limited Liability Partnership (Winding up and Dissolution Rules, 2012
Annexures 6 : The Indian Partnership Act, 1932
Annexures 7: The Emblems and Names (Prevention of Improper use) Act, 1950
Annexures 8 : Notifications & Circulars
Subject Index
Case Laws (More than 3000 case referred)