Indian Contract Act, 1872
Quick practice
Question 1 of 5
According to the statutory requirements for forming a Limited Liability Partnership in India, what is the mandatory minimum number of "Designated Partners" required, and what specific residency conditions must they fulfill?
A
At least two designated partners, and at least one of them must be a resident in India.
B
At least two designated partners, and both must be resident in India.
C
Exactly one designated partner, who must be an Indian citizen.
D
At least three designated partners, with no residency restrictions.
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