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Llp partner give unsecured loan to llp

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(Querist)
29 May 2017 Hie,


Please give suggestion, LLP partner can give unsecured loan to LLP or Not??? If have any rules shared with me.
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CA Mohit Kumar

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CA Mohit Kumar (Expert)
29 May 2017 Yes, Since LLP is an legal entity and it is distant from the partners, hence it can give loan to the partners.
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CA Mohit Kumar

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CA Mohit Kumar (Expert)
29 May 2017 as well as they can take loan from partners
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pooja Garg

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pooja Garg (Querist)
29 May 2017 Thanks Sir,

Sir can you tell any rule in LLP Act for Loan ????
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pooja Garg

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pooja Garg (Querist)
31 May 2017 HI Mohit,

As per Sec 185 PROHIBITED TRANSACTIONS. No Company advance any loan to any firm in which any such director or relative is a partner. So You can suggest me that, How can give Loan by Pvt company to its partner of LLP???
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CA Mohit Kumar

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CA Mohit Kumar (Expert)
01 June 2017 section 185 is related to companies and not to LLP
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