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Interest on partners loan to llp

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(Querist)
10 February 2016 Hello Sir / Madam,

Does LLP act includes any statutory provisions regarding partners loan to firm as Rate of Interest, Loan repayment, Interest payment, Time period of Loan or it is as decided by partners agreement.
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Pratik Shah

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Pratik Shah (Expert)
11 February 2016 LLP Act does not have any such provisions. LLP Agreement need to have these clauses.

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