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Limited Liability Partnership

A Limited Liability Partnership (“LLP”) is a form of business entity which permits individual partners to be shielded from the liabilities created by another partner’s business decision or misconduct. In India, LLPs are governed by the Limited Liability Partnership Act, 2008. LLP is a body corporate and exists as a legal person separate from its partners. Foreign investment in LLPs is permitted only under the Government approval route and can be made in LLPs operating in sectors where 100% FDI is allowed through the automatic route and there are no performance linked conditions.

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