Answer-Under Section 7 of the Limited Liability Partnership (LLP) Act, 2008, which of the following stateme...

Correct Answer Option 3. The Designated Partner is a unique feature of the LLP structure, acting as the primary point of contact for regulatory compliance, similar to a Director in a company. The Two Individual Rule Every LLP must have at least two designated partners who are individuals. If a body corporate like a Company or another LLP is a partner in the LLP, it must nominate an individual to act as its designated partner.

Question

Under Section 7 of the Limited Liability Partnership (LL

P Act, 2008, which of the following statements correctly describes the mandatory requirements for Designated Partners?

A Every LLP must have at least three designated partners, of whom all must be Indian residents.

B An LLP must have at least two designated partners who are individuals, and both must be residents in India.

C An LLP must have at least two designated partners who are individuals, and at least one of them must be a resident in India.

D Only individuals who are also shareholders in a public company can be appointed as designated partners.

E There is no requirement for a designated partner to be an Indian resident, provided they hold a valid DIN.

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Under Section 7 of the Limited Liability Partnership (LL

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