Limited Liability Partnership
is it mandatory to file and get registered the partnership agreement under LLP?
By  Harsh Sharma  |  22 Jul 2016  |  Upvotes: 0  | 

1 Answer(s)

Rashi Gahlaut

Yes, it mandatory to execute and file LLP Agreement in view of Section 2(0) & (q) , 22 and 23 of the Act. As per provisions of the LLP Act, in the absence of agreement as to any matter, the mutual rights and liabilities shall be as provided for under Schedule I to the Act. Therefore, in case any LLP proposes to exclude provisions/requirements of Schedule I to the Act, it would have to enter into an LLP Agreement, specifically excluding applicability of any or all paragraphs of Schedule I.

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