LLP & Partnership — Guides, Updates & Practical Insights
Understand LLP & Partnership with practical, easy-to-follow guidance — from the basics through registration, returns, compliance and notices.
“Winding Up” in LLP & Partnership
LLP Agreement Draft -- Comprehensive Template with All Clauses
Complete guide to LLP agreement under Limited Liability Partnership Act, 2008. Process, documents, penalties, latest amendments. Updated March 2026.
LLP Agreement -- What It Must Contain and How to Draft
Complete guide to LLP agreement under Limited Liability Partnership Act, 2008. Process, documents, penalties, latest amendments. Updated March 2026.
Winding Up and Dissolution of LLP
Complete guide to LLP winding up under Limited Liability Partnership Act, 2008. Process, documents, penalties, latest amendments. Updated March 2026.
Notice of Dissolution of LLP -- Template
Complete guide to dissolution under Limited Liability Partnership Act, 2008. Process, documents, penalties, latest amendments. Updated March 2026.
Form 24: How to File an Application for Striking Off the Name of an LLP (Rule 37, Section 75)
Under rule 37(1)(b), an LLP that has not carried on any business or operation for one year or more may apply to the Registrar in Form 24, with the consent of all partners. Under rule 37(1)(a) the Registrar may act on his own motion where the LLP has been inactive for two years or more and he has...
Section 2 of the Limited Liability Partnership Act, 2008: Definitions (Part 2: Small LLP, Designated Partner, Tribunal and Others)
A "small limited liability partnership" is one whose contribution does not exceed twenty-five lakh rupees (or a higher prescribed amount, not exceeding five crore rupees) and whose turnover, as per the Statement of Accounts and Solvency for the immediately preceding financial year, does not exceed...
Section 67 of the Limited Liability Partnership Act, 2008: Application of Companies Act Provisions
The Central Government may, by notification in the Official Gazette, direct that any of the provisions of the Companies Act specified in the notification shall apply to any LLP, either as they stand or with such exception, modification and adaptation as may be specified (67(1)). A copy of every...
Section 58 of the Limited Liability Partnership Act, 2008: Registration and Effect of Conversion
The Registrar, on satisfying himself that the Schedule has been complied with, registers the documents and issues a certificate of registration stating the LLP is registered on and from the date specified in the certificate (58(1)). The LLP must inform the Registrar of Firms or Registrar of...
Sections 61–62 of the Limited Liability Partnership Act, 2008: Enforcing Arrangements, Reconstruction and Amalgamation
After sanctioning a deal under section 60, the Tribunal may supervise it and give directions or modify it (61(1)); if it cannot be worked satisfactorily, the Tribunal may order winding up, deemed an order under section 64 (61(2)). Under section 62 the Tribunal may provide for transfer of the...
Sections 72–73 of the Limited Liability Partnership Act, 2008: Jurisdiction of Tribunal and Appeals
The Tribunal exercises the powers and functions conferred by or under this Act or any other law (72(1)). Any person aggrieved by an order of the Tribunal may appeal to the Appellate Tribunal, but not from an order made with the consent of parties (72(2)). The appeal must be filed within sixty days...
Section 42 of the Limited Liability Partnership Act, 2008: Partner's Transferable Interest
The rights of a partner to a share of the profits and losses of the LLP and to receive distributions in accordance with the LLP agreement are transferable, either wholly or in part (s.42(1)). A transfer does not by itself cause the disassociation of the partner or a dissolution and winding up of...
Section 60 of the Limited Liability Partnership Act, 2008: Compromise or Arrangement
Where a compromise or arrangement is proposed between the LLP and its creditors, or between the LLP and its partners, the Tribunal may order a meeting (60(1)). If a majority representing three-fourths in value agrees and the Tribunal sanctions, the deal binds all creditors or partners and the LLP...
Sections 63–64 of the Limited Liability Partnership Act, 2008: Winding Up and Dissolution, and Grounds for Winding Up by Tribunal
Winding up of an LLP may be either voluntary or by the Tribunal, and an LLP so wound up may be dissolved (s.63). The Tribunal may wind up an LLP in the cases listed in section 64: the LLP decides to be wound up by the Tribunal; the partners are below two for more than six months; the LLP acted...
Sections 78–81 of the Limited Liability Partnership Act, 2008: Schedules, Rules, Removal of Difficulties and Transitional Provision
Section 78: the Central Government may alter any provision of the Schedules by notification, effective as if enacted in the Act, and the alteration is laid before Parliament for thirty days. Section 79: it may make rules for carrying out the Act, on the matters listed in 79(2), now including small...
LLP vs Private Limited Company: Detailed Comparison 2025
Comprehensive comparison of LLP and Private Limited Company in India. Covers tax rates, compliance, ownership, funding, liability, and which is better for different business types.
Sections 53–54 of the Limited Liability Partnership Act, 2008: Expenses of Investigation and Report as Evidence
The expenses of an investigation are defrayed in the first instance by the Central Government, but the following reimburse it: a person convicted on a prosecution or ordered to pay damages or restore property under s.52, as the court specifies; an entity in whose name s.52 proceedings are brought...
Section 75 of the Limited Liability Partnership Act, 2008: Power of Registrar to Strike a Defunct LLP Off the Register
Where the Registrar has reasonable cause to believe that an LLP is not carrying on business or its operation, in accordance with the provisions of this Act, its name may be struck off the register "in such manner as may be prescribed". Before doing so, the Registrar shall give the LLP a reasonable...
Sections 48–49 of the Limited Liability Partnership Act, 2008: Seizure of Documents and Inspector's Report
If an inspector has reasonable ground to believe that books and papers of or relating to the LLP, another entity, or a partner or designated partner may be destroyed, mutilated, altered, falsified or secreted, he may apply to the Judicial Magistrate of the first class or the Metropolitan Magistrate...
Section 59 of the Limited Liability Partnership Act, 2008: Foreign Limited Liability Partnerships
The Central Government may make rules for the establishment of a place of business by foreign limited liability partnerships within India and carrying on their business therein (s.59). The rules may work by applying or incorporating, with such modifications as appear appropriate, the provisions of...
Rule 35 of the Limited Liability Partnership Rules, 2009: Revival and Rehabilitation of an LLP and the LLP Administrator
A revival and rehabilitation arrangement may be proposed where creditors holding 50 per cent or more of the debt demand payment and the LLP fails to pay within thirty days, or where a winding-up petition or a liquidator's report is before the Tribunal (rule 35(12)(i)). The application is made...
Sections 50–52 of the Limited Liability Partnership Act, 2008: Prosecution, Winding Up and Recovery After Investigation
If the report under section 49 shows that any person has been guilty of an offence, the Central Government may prosecute him, and all partners, designated partners, employees and agents must give all assistance they reasonably can (s.50). Where the LLP is liable to be wound up and the report shows...
Sections 5–6 of the Limited Liability Partnership Act, 2008: Partners and the Minimum Number of Partners
Any individual or body corporate may be a partner (section 5), but an individual cannot become one if a Court has found him of unsound mind and the finding is in force, he is an undischarged insolvent, or he has applied to be adjudicated insolvent and the application is pending. Every LLP must have...
Section 48 of the Indian Partnership Act, 1932: Settlement of Accounts Between Partners
After dissolution, and subject to agreement by the partners, losses (including deficiencies of capital) are paid first out of profits, next out of capital, and lastly, if necessary, by the partners individually in the proportion in which they shared profits (48(a)). The firm's assets, including...
Sections 65–66 of the Limited Liability Partnership Act, 2008: Winding-Up Rules and Partners' Business with the LLP
The Central Government may make rules for the provisions in relation to winding up and dissolution of LLPs (s.65). A partner may lend money to and transact other business with the LLP and has the same rights and obligations with respect to the loan or other transactions as a person who is not a...