Mr. A is a well experienced technocrat in the field of manufacturing of computer hard discs and motherboard. He resigned from his job and wished to…

CA Intermediate · Corporate and Other Laws · MTP · May 2026
Mr. A is a well experienced technocrat in the field of manufacturing of computer hard discs and motherboard. He resigned from his job and wished to form a Limited Liability Partnership (LLP) with the object of manufacturing and trading of computer hardware. He wanted to include his close friends Mr. X, Mr. B and Mr. C who are very familiar in the same field and worked in foreign companies also. All three friends had accepted the invitation of Mr. A to be partners of the LLP. Mr. A wanted to ensure whether all the three friends are resident of India and requested them to provide the details of their stay in India. During the previous financial year, Mr. X has stayed in India for a period of 170 days, Mr. B stayed in India for 110 days and Mr. C stayed in India for 100 days. All the partners had given their consent to act as designated partners. He applied for the reservation of desired name to the Registrar and also paid the prescribed fees. On the basis of above facts and by applying applicable provisions of the Limited Liability Partnership Act, 2008 and the applicable Rules therein, choose the correct answer (one out of four) of the following Multiple Choice Questions given herein under:
(A) 2 months
(B) 1 month
(C) 3 months
(D) 6 months

Suggested Answer and Working Notes:

Correct Answer: Option (C)

3 months

Topics: The Foreign Exchange Management Act, 1999, The Limited Liability Partnership Act, 2008

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