Need for Introduction of Limited Liability Partnership in India

The purpose of this paper is to understand the necessity of introduction of Limited Liability Partnership in India. This paper helps in understanding the basic concept on an LLP and its features. The paper briefly discusses why an LLP is the need of the hour for businesses in India and how it will help the economy. It also analyses various case laws and acts relating to this type of partnership. The paper throws light on current stance of LLP in India. Various research papers and articles on LLP have been reviewed. Lastly, suggestions to improve LLP framework have also been mentioned.