Can LLP partnership firm hypothecate the property belongs to it for Loan taken by another Partnership Firm registered under Partnership Act.
One of the partner of LLP is also a partner in Partnership firm.The lending bank has arranged Board resolution copy for its safety because there is no such clause in either of firm's Partnership deed...
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LLP firm hypothecate its property for Loan taken by another Partnership Firm
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Provided there is an agreement for purchase of the firm.
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