Question

Which statement about a designated partner in the context of a Limited Liability Partnership is not true?

A At least two designated partners must be individuals
B At least two designated partners shall be resident in India
C Designated partners can be appointed based on the LLP agreement
D Every designated partner must obtain a Designated Partner Identification Number
E The term "resident in India" refers to a person who has stayed in India for at least 120 days during the financial year as per section 7 of the LLP Act
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