BUSINESS LAW | UNIT 5 | ONE SHOT | THE LIMITED LIABLITY PARTNERSHIP ACT 2008 | DU/SOL/REGULAR/NCWEB

LLP Act 2008, Business Law DU Semester 1, and BCom one-shot lectures:


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📘 BUSINESS LAW UNIT 5 – THE LIMITED LIABILITY PARTNERSHIP ACT, 2008 | ONE SHOT LECTURE | DELHI UNIVERSITY SEMESTER 1 | FULL SYLLABUS COVERAGE

Welcome to this complete one-shot lecture on Unit 5: The Limited Liability Partnership Act, 2008 from the Business Law syllabus for B.Com (Hons) / B.Com Programme – Semester 1 (Delhi University).
This video provides a detailed explanation, easy language notes, and conceptual clarity to help you score high in your Business Law exams and understand the LLP Act 2008 comprehensively.

If you’re preparing for Delhi University, IGNOU, IP University, or any B.Com or BBA program, this lecture will help you cover the entire unit in one video — ideal for exam revision and quick understanding.


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💼 Topics Covered in This Lecture: The Limited Liability Partnership Act, 2008

1️⃣ Introduction to Limited Liability Partnership (LLP)

Meaning and Definition of LLP

Concept and Need for LLP in India

Historical Background and Objective of the LLP Act, 2008

Key Features and Characteristics of LLP

Advantages and Disadvantages of LLP


2️⃣ Difference Between LLP and Other Business Forms

Difference Between LLP and Partnership Firm (under Indian Partnership Act, 1932)

Difference Between LLP and Private Limited Company (under Companies Act, 2013)

Why LLP is a preferred form for professionals and startups


3️⃣ Incorporation and Registration of LLP

Procedure for Incorporation of LLP

Incorporation Document – Meaning, Contents, and Legal Requirements

Registered Office of LLP – Establishment and Change Therein

Certificate of Incorporation – Legal Validity and Effects


4️⃣ Partners and Designated Partners

Meaning and Eligibility of Partners in LLP

Admission, Cessation, and Change of Partners

Designated Partners – Meaning, Appointment, Duties, and Responsibilities

Identification Number (DPIN) and Role in Compliance

Liability of Partners and Designated Partners


5️⃣ Relationship of Partners and Liability

Rights and Duties of Partners (Mutual Rights & Duties)

Extent and Limitation of Liability of Partners

Obligation of LLP for Acts of Partners

Contribution by Partners – Nature, Form, and Valuation


6️⃣ Change of Name, Whistleblowing, and Conversion

Change and Rectification of the Name of LLP

Provisions Related to Name Approval and Infringement

Whistleblowing under LLP Act – Meaning, Protection, and Importance

Conversion into LLP:

Conversion of Partnership Firm into LLP

Conversion of Private Company into LLP

Conversion of Unlisted Public Company into LLP


Legal Effects and Benefits of Conversion


7️⃣ Accounts, Audit, and Annual Filing

Maintenance of Books of Account

Statement of Account and Solvency

Annual Return and Filing Procedures

Audit of LLP Accounts – When It Is Required


8️⃣ Investigation, Compromise, Arrangement, and Winding Up

Investigation into the Affairs of LLP

Compromise and Arrangement

Winding Up and Dissolution of LLP – Voluntary and Compulsory

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🎯 Why Watch This Video

Complete Business Law Unit 5 (LLP Act 2008) in One Shot

Exam-Oriented Explanation with Keywords and Important Sections

Simplified Language and Real-life Examples

Perfect for Delhi University (DU), IGNOU, IP University, and other B.Com/BBA programs

Covers all important topics, provisions, and differences relevant for semester exams and viva

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