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    Question

    The designated partners are

    liable______.
    A For all the matters and things required to be done by LLP. Correct Answer Incorrect Answer
    B To all the penalties imposed on the LLP. Correct Answer Incorrect Answer
    C Filing of documents or return on behalf of LLP. Correct Answer Incorrect Answer
    D A and C. Correct Answer Incorrect Answer
    E A,B and C. Correct Answer Incorrect Answer

    Solution

      S.8. Liabilities of designated partners.— Unless expressly provided otherwise in this Act, a designated partner shall be— (a) responsible for the doing of all acts, matters and things as are required to be done by the limited liability partnership in respect of compliance of the provisions of this Act including filing of any document, return, statement and the like report pursuant to the provisions of this Act and as may be specified in the limited liability partnership agreement; and (b) liable to all penalties imposed on the limited liability partnership for any contravention of those provisions.

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