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CSEET · Business Laws and Management · Elements of Law relating to Partnership and Limited Liability Partnership

Under the Limited Liability Partnership Act, 2008, what is the minimum number of persons who must subscribe their names to the incorporation document for an LLP to be incorporated?

Two persons are the minimum. Section 11(1)(a) of the LLP Act, 2008 requires two or more persons associated to carry on a lawful business with a view to profit to subscribe their names to the incorporation document before an LLP can be incorporated.

  1. AOne person
  2. BTwo personsCorrect
  3. CThree persons
  4. DSeven persons

Explanation

Section 11(1)(a) requires two or more persons associated for carrying on a lawful business with a view to profit to subscribe their names to the incorporation document. One person is insufficient, and seven is the figure for a public company, not an LLP.

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