I want to know the details regarding LVM: please provide some link regarding Linux to study and understand it.
The best resources are
man pages. To answer your question, see
-l, --maxlogicalvolumes MaxLogicalVolumes
Sets the maximum number of logical volumes allowed in this volume group. The setting can be changed with vgchange(8). For volume groups with metadata in lvm1 format, the limit and default value is 255. If the metadata uses lvm2 format, the default value is 0 which removes this restriction: there is then no limit.
You should also read the man pages for
lvcreate for a fuller understanding of logical volumes and
man lvm for the overview.