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Author Topic: Can a partner take loan from the LLP?  (Read 880 times)

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Offline Janiabhi

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Can a partner take loan from the LLP?
« on: September 27, 2017, 02:25:45 AM »
Can a partner in a limited liability partnership take loan from the LLP?

Offline kalaskarkk

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Re: Can a partner take loan from the LLP?
« Reply #1 on: February 14, 2018, 05:24:14 AM »
Dear Sir,

If there a provision in the Articles of Association then he can take not more than his liability.
Regards:

Kishan Dutt Kalaskar
Retd Judge and Advocate
No.74, 1st Floor, “Disley”  House,
Malleswaram, Bengaluru-560003.
Mob: 9686971935, 080-23461189
kalaskarnetra@gmail.com
Call me for clarification

LegalWiz.in

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Re: Can a partner take loan from the LLP?
« Reply #2 on: February 21, 2018, 04:54:46 AM »
Alike normal Partnership Firm, the LLP can also advance money to its partners in form of Loans. However, it is considerable that the same shall be approved by LLP and the rate of interest cannot be less than the prevailing in market so as to claim the transaction fair and genuine.

I can help you to incorporate the LLP and for Annual Compliance requirement of LLP at affordable prices in simple, affordable and transparent manner.
« Last Edit: February 22, 2018, 06:10:15 AM by admin »

Offline advjaibansal

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Re: Can a partner take loan from the LLP?
« Reply #3 on: February 21, 2018, 05:45:31 PM »
Dear Sir,

With the consent of other partners in the LLP, loan can be taken in LLP.

Regards,
jai bansal
Advocate, New Delhi
Supreme Court of India
bansal.jai@gmail.com
mobile: 09868566649

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