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This query is : Resolved
10 September 2010
What is the time limit for the partners to arrange the Capital contribution agreed by them . And what will be the consequences in case all the partners unable to arrange the Contribution amount agreed by them.
Aditya Maheshwari
(Expert)
10 September 2010
Can be contributed anytime. No time limit. If the firm is dissolved and the firm is unable to pay their debts then the partners will be liable to bring in amount as per deed less any amount already contributed.
10 September 2010
Thanx a lot sir ,It means if partners have decided to contribute 1 crore each then they can start business if they contribute 50% of the amount of contribution..
Aditya Maheshwari
(Expert)
10 September 2010
Yes they can start.
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