Limited Liability Partnership Bill, 2008 to replace 2006 BIll

The Union Cabinet today gave its approval for introduction of a Limited Liability Partnership Bill, 2008 in the Parliament by replacing the Limited Partnership Bill, 2006.

The proposed Bill would facilitate creation of another corporate structure which would further enable growth of the economy.

Background

The Limited Liability Partnership Bill, 2006 approved by the Cabinet on December 7, 2006, was introduced in the Rajya Sabha on 15th December, 2006. It was later referred to the Department Related Parliamentary Standing Committee on Finance for examination and report. The Committee submitted its report to both Houses of Parliament on 27th November, 2007, recommending some changes along with some suggestions regarding the LLP Bill, 2006.

"Loved reading this piece by Prakash Yedhula?
Join LAWyersClubIndia's network for daily News Updates, Judgment Summaries, Articles, Forum Threads, Online Law Courses, and MUCH MORE!!"

Join our Telegram group

Join our Whatsapp group