Number of partners in LLP
This query is : Resolved
16 January 2020
I am curious to understand what happens if only one partner remains in LLP. Rest all partners are retired for summer or the other reasons
16 January 2020
partnership represents PLURALITY. A single person does not satisfy the condition of PLURALITY and hence there exists no LLP when only 1 of the partners remains.
16 January 2020
Thank you
But after retirement of all the partners except one, does the company gets converted in proprietary?
But after retirement of all the partners except one, does the company gets converted in proprietary?
16 January 2020
No automatic route as such. You need to inform the authority about the same.
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