Partner's transferable interest
Section 42 of the Limited Liability Partnership Act, 2008 deals with partner's transferable interest. The rights of a partner to a share of the profits and losses of the limited liability partnership and to receive distributions in accordance with the limited liability partnership agreement are transferable either wholly or in part. The Act came into force on 31 Mar 2009.
(1) The rights of a partner to a share of the profits and losses of the limited liability partnership and to receive distributions in accordance with the limited liability partnership agreement are transferable either wholly or in part.
(2) The transfer of any right by any partner pursuant to sub-section (1) does not by itself cause the disassociation of the partner or a dissolution and winding up of the limited liability partnership.
(3) The transfer of right pursuant to this section does not, by itself, entitle the transferee or assignee to participate in the management or conduct of the activities of the limited liability partnership, or access information concerning the transactions of the limited liability partnership.
Section 42, The Limited Liability Partnership Act, 2008 (Act 6 of 2009).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 42
What does Section 42 of the Limited Liability Partnership Act deal with?
Section 42 of the Limited Liability Partnership Act is headed "Partner's transferable interest". The rights of a partner to a share of the profits and losses of the limited liability partnership and to receive distributions in accordance with the limited liability partnership agreement are transferable either wholly or in part.
How do I find court cases under Section 42 of the Limited Liability Partnership Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Limited Liability Partnership Act 42, section 42 Limited Liability Partnership Act, section 42 of the Limited Liability Partnership Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 42 of the Limited Liability Partnership Act, and has it changed?
3 other provisions in this corpus refer back to it.
When did Section 42 of the Limited Liability Partnership Act come into force?
Section 42 of the Limited Liability Partnership Act, cited as Limited Liability Partnership Act 42, came into force on 31 Mar 2009, having been enacted on 07 Jan 2009. It is in force as at the date shown on this page.
Other sections of this Act
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 15 Oct 2026. This page is not a substitute for legal advice.