| div cl | | | | the Act seems to have failed to address and present |
| Amit M. Sachdeva -Sachin Sachdeva | | | | an overview of some of the decisions rendered by |
| A limited liability partnershipâwhich is a form | | | | the English Courtâs on the nature of LLP, as |
| of business organisation in which the liability of the | | | | the Indian LLP Act, 2008 draws heavily upon the |
| âpartnersâ is limited to the extent | | | | English LLP Act, 2000. In their opinion, as the LLP Act |
| of their interest in the partnership, owing to its | | | | does not go a long way in addressing several key |
| company-type separate legal personality and yet | | | | concerns, it seems more like a framework legislation, |
| having the organizational suppleness and tax | | | | the effective attainment of the objective of which is |
| treatment of a partnershipâconstitutes the | | | | contingent on amending a host of other laws. Some |
| most recent epitomization of such regulatory | | | | much-needed clarificationsâincluding the |
| tendency. To achieve the principal benefits of both | | | | removal of the cap of twenty persons, tax |
| partnership and company as forms of business | | | | treatment and liability of foreign partners at least in |
| organization, LLP Law is formulated. | | | | respect of assets in Indiaâhave not been |
| In this article, the authors have visited the recently | | | | made in the Act. In respect of the legal services, the |
| concluded LLP Act and current status of LLP law in | | | | continued dogmatism of the Bar Council of India |
| India. They, here, address some of the concerns that | | | | remains an area of major concern. |