In a LLP, the obligation of contribution of a designated partner as per the LLP agreement was Rs.50,000. But he contributed only Rs.30,000 in the entire period. Is there will be any penalty or compliance for the same? What should I do now?
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Contribution Received is less than the Obligation of Contribution
Replies (6)
No there should not be any penalty as the contribution amount is less than agreement so you might deposit the additional amount within due time
No penalty if contribution is less
And what will be the due time? What if he fails to contribute more within the due time also?
There is no due time partner can anytime may deposit their capital
No due time agree
If he couldn't able to contribute the balance amount now or even later, is there won't be any issue right?
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