Amendment to LLP Act
Media: Industry development
CNBC-TV18 @CNBCTV18LiveAmendment to Limited Liability Partnership Act approved. Total of 12 offences to be decriminalised for LLPs. Many of the startup’s can also benefit from the ease of doing business. Coming up with a new definition of all LLPs. Expanding the scope of what can be a small LLP. https://t.co/535N2Y9QOs
This is a welcome, founder-friendly development. The amendment will make Limited Liability Partnerships an even more attractive vehicle and Indian a more sought-after destination.
We at ADIF encourage and look forward to a similar progressive exercise being undertaken with respect to private limited companies as well, which will greatly benefit the startup ecosystem.
The move will help simplify the life of founders and exudes confidence in the government’s intent towards bringing about real of ease of doing business.