New Register here for RBI, SEBI & NABARD strategy workshop! April 9 at 7 PM

    Question

    What are the restrictions in respect of minimum and

    maximum number of partners in an LLP
    A No restriction on the minimum and maximum number of partners Correct Answer Incorrect Answer
    B LLP should have at least ten members and no limit on the maximum number Correct Answer Incorrect Answer
    C LLP should have at least minimum number of two partners and no limit on maximum number of partners Correct Answer Incorrect Answer
    D Both (a) and (c) Correct Answer Incorrect Answer

    Solution

    LLP should have at least two partners and at least two individuals as designated partners. Further, it is mandatory that at least one of the designated partners shall be a resident in India. There is no limit on the maximum number of partners in a LLP.

    Practice Next