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Volume 20 No 7 (2022)
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An Overview of Limited Liability Partnership (LLP) In India
Dr.K.V.S.Prasad
Abstract
Limited Liability Partnership (LLP) is the set body of rules that govern the commercial transactions and
these commercial transactions were the stimulating factor in the creation of law and legal system in the
Western world. Limited liability is a fundamental principle of corporate law and it characterizes the
modern corporation1. Day by day, with the growth of Indian economy the role played by the tycoons is
acknowledged with due admiration and it is becoming a famous and widely acceptable mode of
corporate structure2.
Keywords
Limited Liability Partnership, Partnership Firm, Company, Features, Comparison
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