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Querist : Anonymous (Querist)
21 January 2011 act provides tht on cessation of partner he will be liable for liabilities arise during his period.

wht does this mean?pls explain giving example
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udit sharma

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udit sharma (Expert)
22 January 2011 This means that when a partner exits from the LLP, he will liable for all the liabilities arising out of the acts done by the LLP during the period when he was a Partner.

Regards

CS Udit Sharma

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