Llp act section 6
This query is : Resolved
SHIVAM JHUNJHUNWALA
(Querist)
22 April 2021
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
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
CA R SEETHARAMAN
(Expert)
23 April 2021
It's from 1/7/2021....
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