03 March 2010
Limited Liabilioty Partnership means the liability of the partners is limited to the extent of their stake in the entity and those stated in the Partnership firm when registered may be to the extent of their persona wealth and or property as those stated in the partnership deed ....in the even of dissolution of the partnership firm .....
Any entity and or a firm ought to be registered as a partnership firm would be liable to can be registered as a partnership firm with ltd liability.
Plz specify that one of my client is having a company which is loss making and he wants it to convert it into LLP whether is it possible? If yes then what is the procedure for that can we be able to avoid liquidation process???
CAclubindia
