Egalitarian Requirement of Partners

• As per the Limited Liability Partnership Act, 2008, an LLP must have at least two partners.
  
• These partners can be either individuals or bodies (like companies or LLPs).
  
• However, there are specific rules concerning designated partners, which must be fulfilled regardless of the types of general partners.

Designated Partner Mandate

• Every LLP must have at least two designated partners who are individuals.
  
• At least one of these individuals must be a resident in India.
  
• Body corporates cannot be designated partners directly.
  
• If a body corporate wishes to act as a designated partner, it must nominate an individual to represent it.
  
• The LLP will not be compliant if no individual is appointed as a designated partner.

Formation with Only Corporate Entities

• An LLP cannot be formed with only corporate partners, unless they nominate individuals as designated partners.
  
• These nominated individuals are responsible for regulatory compliance and legal duties.
  
• Therefore, individual presence is mandatory at the level of the designated partnership.

Compliance Obligations

• The nominated individuals must obtain a DPIN and a DSC and be registered with the Ministry of Corporate Affairs.
  
• They must also sign and file incorporation documents and continue to ensure legal compliance.
  
• Failure to appoint proper designated individuals may lead to rejection of LLP registration or penalties.
  
• Even if all financial contributions and ownership are from corporate partners, individual oversight is legally enforced.