Any individual or business or foreign national can be a partner in an LLP. An Incorporation Document subscribed by at least two partners shall have to be filed with the Registrar in a prescribed form. It ought to be noted that, this audit of accounts is compulsory in circumstances of a private or public restricted companies, irrespective of the share capital of those. Out of the 29,723 LLPs registered or companies converted to LLPs in 2016-17, at least 33 per cent have been registered in Maharashtra, 13 per cent in Delhi and eight per cent in Gujarat. A Restricted Liability Partnership must

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