With reference to the Limited Liability Partnerships (LLPs) companies, consider the following statements:
1. LLP is a legal entity separate from its partners
2. The partners in a LLP are liable for independent or unauthorised acts of other partners
3. Private companies are allowed in India to get converted into LLPs
Choose the correct option from the codes given below:

Answer: [C] Only 1 & 3

This question is a part of GKToday's Integrated IAS General Studies Module