Limited Liability Partnership Act,2008
This query is : Resolved
26 October 2010
Dear Sir,
Pls. solve my following query regarding LLP Act,2008.
LLP being seprate legal entity what is maximum & minimum withdrawls of partners from LLP
Thank You,
With Regards,
Amit Singh
Pls. solve my following query regarding LLP Act,2008.
LLP being seprate legal entity what is maximum & minimum withdrawls of partners from LLP
Thank You,
With Regards,
Amit Singh
26 October 2010
It would depend upon the LLP agreement.
26 October 2010
Thanks Mr. Aditya Maheshwari Sir,
There has to be some limit
"If say partner has contributed Rs 10 Lac and profit accumulated to his account is Rs 20 Lac. So capital account to his credit is Rs 30 Lacs.
Thus, can partner withdraw upto say Rs 25 Lacs from LLP?
What if, partner withdraws Rs 45 lacs (overdrawn amount is Rs 15 lac) ?"
With Regards,
Amit Singh
There has to be some limit
"If say partner has contributed Rs 10 Lac and profit accumulated to his account is Rs 20 Lac. So capital account to his credit is Rs 30 Lacs.
Thus, can partner withdraw upto say Rs 25 Lacs from LLP?
What if, partner withdraws Rs 45 lacs (overdrawn amount is Rs 15 lac) ?"
With Regards,
Amit Singh
26 October 2010
There is no restriction as per LLP act. So there must be restriction as per provisions of LLP agreement only in my view.
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27 October 2010
Thank Sir
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