The Limited Liability Partnership Act, 2008
Administered Ministry: Ministry of Corporate Affairs
Act details
| Short title | The Limited Liability Partnership Act, 2008 |
|---|---|
| Long title | An Act to make provisions for the formation and regulation of limited liability partnerships and for matters connected therewith or incidental thereto. |
| Act number | 6 of 2009 |
| Act year | 2009 |
| Enactment date | 7 Jan 2009 |
| Ministry | Ministry of Corporate Affairs |
| Jurisdiction | Central (Parliament of India) |
| Sections | 88 |
| Schedules | 4 |
| Status | Not repealed |
| Last checked on India Code | 29 Oct 2026 |
| Source | India Code, Government of India |
Legislative history
Legislative History:
The Limited Liability Partnership Act, 2008 ACT NO. 6 OF 2009
Short Title The Limited Liability Partnership Act, 2008
Act Number / Year Act No. 6 of 2009
Act ID (India Code) 200906
Presidential Assent Date January 7, 2009
Enforcement Date March 31, 2009
Nodal Ministry Ministry of Corporate Affairs
Precedent & Statutory Rationale
1. Limitations of Traditional Partnerships and Companies:
o Prior to 2009, Indian businesses operated primarily under either the Indian Partnership Act, 1932 (which subjected partners to unlimited personal liability, creating substantial financial risk) or the Companies Act, 1956 (which offered limited liability but imposed heavy regulatory burdens, strict compliance costs, and governance rigidities ill-suited for small businesses and professional partnerships).
2. Integration of Flexibility and Protection:
o Grounded in strategic recommendations from expert bodies—including the Naresh Chandra Committee on Regulation of Private Companies and Partnerships—the legislation was formulated to establish an alternative hybrid vehicle. It combined the organizational and operational flexibility of a traditional partnership with the legal protection of limited liability typically reserved for companies.
Parliamentary Trajectory & Enactment
• Formulation: Developed and piloted by the Ministry of Corporate Affairs to promote small and medium enterprises (SMEs) and modern service sector firms (such as chartered accountants, company secretaries, advocates, and architects).
• Parliamentary Passage: Tabled and passed by both Houses of Parliament during the winter session of 2008 (with the Lok Sabha passing the Bill on December 13, 2008).
• Presidential Assent: Received formal Presidential Assent on January 7, 2009, entering the statute book as Act No. 6 of 2009.
• Enforcement: Brought into active operational force on March 31, 2009, accompanied by the formal notification of the Limited Liability Partnership Rules, 2009.
• Source: India Code and Ministry of Corporate Affairs Official Records