Section 5 — Partners
Section 5 LLP Act 2008: Who can be a partner in an LLP? Individuals & body corporates qualify, but 3 key disqualifications apply. CA Inter e
Paper 2 — Corporate & Other Laws · Chapter
Limited Liability Partnership Act 2008
Key provisions of the LLP Act 2008 — incorporation, partners and designated partners, capital contribution, conversion, winding up. A new chapter to CA Inter syllabus, expect 6–8 marks per attempt.
8 microlessons in this chapter
Read each in 5 minutes. Each has worked examples + the bare-Act text for reference.
All lessons
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2
Section 7 — Designated Partners
Section 7 LLP Act 2008: rules for designated partners — minimum 2, residency (120 days), DPIN, consent & 30-day filing. Key topic for CA Int
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3
Section 11 — Incorporation Document
Section 11 LLP Act 2008: Learn what the LLP incorporation document must contain, who files it, and the penalty for false statements — CA Int
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4
Section 12 — Incorporation by Registration
Section 12 LLP Act 2008: Registrar must issue incorporation certificate within 14 days; certificate is conclusive evidence of LLP formation.
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5
Section 23 — Relationship of Partners
Section 23 LLP Act 2008 explained: how LLP Agreements govern partner rights, when First Schedule applies, and pre-incorporation agreement ru
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6
Section 27 — Extent of Liability of LLP
Section 27 LLP Act 2008 explained: when is an LLP liable for partner acts? Key rules on limited liability, wrongful acts & partner authority
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7
Section 32 — Form of Contribution
Section 32 LLP Act 2008: What counts as a partner's contribution — cash, property, services & more. Key rules for CA Inter Other Laws exam.
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8
Section 55 — Conversion from Firm to LLP
Section 55 LLP Act 2008: How a partnership firm converts into an LLP — conditions, effects & exam tips for CA Inter May 2026.
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