Friday, February 15, 2008

LLP TO BE TABLED IN BUDGET SESSION

The Government will table a bill in the coming budget session of Parliament to introduce a hybrid form of business entity called Limited Liability Partnership (LLP). The LLP Bill was introduced by the Government in Rajya Sabha and was referred to a Standing Committee, which recently submitted its report. A new bill to replace the existing company law with a modern sophisticated one would also to be introduced before the Parliament in the coming budget session.

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