09 June 2015
a,b,c are three partners of LLP. Caiptal A/c balance of A is negative 10 lacs. is Mr. A liable to contribute Rs. 10 lacs to LLP for his share of loss?
09 June 2015
The liabilities of LLP shall be met out of the property of the LLP. Liability of the partners is limited to their contribution. See more at MCA web site. http://www.mca.gov.in/LLP/faq_liability_partners.html
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