"This is CS Kavitha Jain, Practising Company Secretary from Chennai, into Corporate Law Practice and advisory since 2017."
The concept of Limited Liability in Partnership is arrived from the Companies where the shareholders are liable to the extent of amount unpaid towards the shares held by them, which came into existence in 1897 through a Landmark judgement: Salomon v Salomon & Co Ltd. The same kind of protection is also given to the Limited Liability Partnership wherein the designated partners are not personally liable.
