International Journal of Multidisciplinary Research and Development

International Journal of Multidisciplinary Research and Development


International Journal of Multidisciplinary Research and Development
International Journal of Multidisciplinary Research and Development
Vol. 5, Issue 3 (2018)

Limited liability partnership in India


Dr. Vivek Kumar

The legal quandary articulated above also applies to the virgin concept of Limited Liability Partnerships. The new corporate vehicle of Limited Liability Partnership is promulgated to address the existing vacuum between the partnership law and the company law. The Limited Liability Partnership law is basically a nuptial knot between the philosophical ideology of company law and partnership law in order to address the deficiency in the domain of small scale business sector, professional sector & venture capital sector and to accelerate the speed of India’s economic growth by developing entrepreneurial skills for the promotion of micro, small & medium enterprise besides professional and venture capital sector etc.
Pages : 93-100