Lesson 5 - Formation of LLP | CS Executive | SBEC

Limited liability partnership is a combination of both partnership and corporation. It has the feature of both these forms. As the name suggests partners have limited liability in the company which means that personal assets of the partners are not used for paying off the debts of the company. Nowadays it has become very popular form of business as many entrepreneurs are opting this. There are a number of partners in the firm and hence they are not liable or responsible for others misconduct. Every one is liable for their own acts. All limited liability partnership is governed under the limited liability partnership act of 2008. However in India LLP was introduced in April 2009.
It is a separate legal entity distinct from its owners. It can enter into a contract and acquire property in its name. LLP form is not just prevailing in India. It is also seen in countries like the United Kingdom, Australia etc
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[@csitis]

Best explanation on LLP 💯. Awesome teaching style .

[@selvis9149]

Thanks so much sir....your video lectures are too helpful

[@jahangirtutorials]

Glad to hear that 😀😀

[@shivanidubey7475]

Thank you so much sir..this session is ..really really helpful

[@jahangirtutorials]

All the best

[@sakshijain8452]

YOUR CLASSES R WORTH WATCHING SEEING FORWARD TO LEARN MORE

[@prathamvishwakarma4845]

Very nice and clean lecture 👍

[@jahangirtutorials]

Thank you ☺️

[@Vlogwithneha18]

Well explained...😊😊

[@raunakbapna3403]

Sir very nice explanation with live example and moderate speed please upload more lectures

[@jahangirtutorials]

Thank you 😊😊😊

[@radhaiyer9370]

Your lec are awesome sir👍👍
Plz make video on SBEC chpt 6,8,9,10
Really it will be more helpful for June 21 exam sir
Plz plzz sir....

[@rini.rkrishna]

Sir what is the maximum number of partners in LLP ?

[@omagarwal1100]

No limit

[@prerna8534]

sir plz upload video on chap compliance under labour law

[@shubhangi1936]

Sir this will be applicable for cs executive June 21 ?

[@jahangirtutorials]

Yes