Difference between Fixed capital and current capital in LLP

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Daya

Daya (Querist)
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24 June 2023 what is difference between Fixed capital and Current capital in LLP.
And also Share in Partnership Firm .

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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24 June 2023 Fixed capital is:-
As per the provisions of Section 33 of Limited Liability Partnership Act, 2008, the obligation to contribute to the capital of LLP by each partner shall be as per the subscriber sheet being filled by the Company to the Concerned Registrar of Companies at the time of the LLP Incorporation and the same amount shall be written in the LLP agreement which is filled by the Company to the Concerned Registrar of Companies.
Current capital is the present capital contribution.