Yes, it is mandatory to execute and file partnership agreement in view of Sections 2(0) & (q), 22 and 23 of the LLP Act.
As per provisions of the Act, in the absence of agreement, the mutual rights and liabilities shall be as provided for under Schedule-I to the Act. Therefore, in case any LLP proposes to exclude provisions or requirements of Schedule-I, it would have to enter into an agreement, specifically excluding applicability of any or all paragraphs of the Schedule.
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