Liability of llp partners

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kunal (Querist)
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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?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 June 2015 Not required to contribute for share of loss.

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kunal

kunal (Querist)
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09 June 2015 please give the section reference or any case law

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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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.
https://www.mca.gov.in/LLP/faq_liability_partners.html

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