LAVANYA VISHAKANTAMURTHY
22 April 2021 at 16:51

LLP -Partners contribution

what is the defination of contribution in case of llp? audit is applicable if its contribution exceeds 25 lacs, then whether i need to do summation of fixed as well as current capital contribution to check applicability of audit as per llp act?


SHIVAM JHUNJHUNWALA
22 April 2021 at 10:11

LLP ACT SECTION 6(2)

SIR IN SECTION 6(2) OF LLP,,

THERE ARE TWO PARTNERS "A" AND "B"
1/1/2020- PARTNER "A" DIES
NOW "B" HAS 6 MONTHS TO FIND A NEW PARTNER i.e HE HAS TIME FROM 1/1/2020-30/06/2020
HE HAS TO FIND A NEW PARTNER WITHIN THIS PERIOD.
IF HE FAILS TO FIND PARTNER HIS LIABILITY WILL BE UNLIMITED
MY QUESTION IS FROM WHCIH DATE HIS LIABILITY WILL BE UNLIMITED??


SHIVAM JHUNJHUNWALA
22 April 2021 at 10:10

Llp act section 6

in section 6 it says that "If at any time the number of partners of a limited liability partnership is reduced below two and the limited liability partnership carries on business for more than six months while the number is so reduced, the person, who is the only partner of the limited liability partnership during the time that it so carries on business after those six months and has the knowledge of the fact that it is carrying on business with him alone, shall be liable personally for the obligations of the limited liability partnership incurred during that period."

so here we take that llp had two members and one member died on 1/1/2021
so the remaining partner has 6 months i.e. 1/1/2021-30/06/2021 to find new partner or wind up
if he doesn't find a new partner, then from which date the remaining partner liability will be unlimited i.e. from 1/07/2021 or 1/1/2021


SHIVAM JHUNJHUNWALA
20 April 2021 at 20:34

INDIAN CONTRACT ACT WHAT IS PROMISE

DOES EVERY AGREEMENT NEEDS TWO PROMISE TO FORM . I MEAN TO SAY THAT EVRY CONTRACT TO FORM REQUIRES TWO RPOMISE IN IT IRRESPECTIVE OF PERFORMANCE??
i.e BOTH THE PARTIES NEED TO EXCHANGE PROMISE TO EACH OTHER OR NOT, IRRESPECTIVE WHETHER ONE HAS PEROFROMED DURING FORMATION OF CONTRACT


SHIVAM JHUNJHUNWALA
20 April 2021 at 08:57

Companies act opc

WHAT IF AN OPC HAS A TURNOVER OF MORE THAN 2 CRORE IN FIRST YEAR. WILL IT BE BOUND TO CONVERT COMPULSORILY AS CONDITIONS FOR COMPULSORY CONVERSION SAYS THAT IN ORDER TO COMPULSORY CONVERT AVERAGE TURNOVER OF IMMEDIATELY PRECCEDING 3 F.Y IS TO BE SEEN.. SINCE COMPANY EARNED MORE THAN 2CR IN FIRST YEAR...???


SHIVAM JHUNJHUNWALA

IN INDIAN CONTRACT ACT, DOES PROMISEE GETS CONSIDERATION IN UNILATERASL CONTRACT...FO EG. "M" ADVERTISES THAT WHOESEVER FINDS HIS LOST DOG WILL BE REWARDED 5000. "A" FINDS DOG AND RETURN IT TO "M". HERE CONTRACT IS FORMED AS SOON AS "A" FINDS AND RETURN THE LOST DOG AND HENCE IT IS A UNILATERAL CONTRACT. SO AS WE KNOW ACCORDING TO DEFINATI0ON OD CONSIDERATION AS PER 2(D) CONSIDERATION IS FOR PROMISE.. HERE "M" OFFERED AND "A" ACCPETED BY GIVING PEROFORMANCE. SO "M" HAS PROMSIED TO GIVE 5000 TO WHICH HE RECIEVES CONSIDERATION AS HIS LOST DOG. BUT "A" DOESNT MAKES ANY PROMISE BCOZ HE HAS PERFORMED HIS ACT.. SO "A" GETTING 5000 IS OR IS NOT CONSIDERATION......IN SHORT DOES PROMISEE IN AN UNILATERAL CONTRACT RECIEVES CONSIDERATION


Rohit Mehta
14 April 2021 at 17:17

Revision of ECB Loan agreement

can any body please provide the draft for revision of ecb loan agreement


neha chawla

Do we need to use the same proprietor code, for all applications made under the same name(same entity) for trademark(same client code for same entity for different trademarks)?


karan
03 April 2021 at 00:43

PF & ESI REturn


I am filing monthly ECR and make payment on 15th of every month. what are the other PF return i need to file as employer.

what are the ESI return i need to file


Prajakta Potdar

Statutory body which comes into existence under section 3 of Advocate Act, which has alloted premises in Government premises, so not having shops and establishment license, is liable to registered in EPF? Actually it is not a profit making organisation and not comes under private sector.






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