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Can partners of llp withdraw capital after conversion from pvt. ltd. co.

Others 4846 views 2 replies
If Company A Ltd. has converted into A LLP. Then can the partners of A LLP, withdraw their capital from A LLP or not? If not then why not and if Yes, then how much? I request the experts to please quote the relevant section and law for their opinions.
Replies (2)

If Company A Ltd. has converted into A LLP it is no more

reamain company it is become llp so all the things will be done 

as per llp agreements 

Whenever a partner of a LLP ceases to be a partner than unless otherwise provided in the LLP agreement, the former partner or a person entitled to his share in consequence of the death or insolvency of the former partner, shall be entitled to receive from the limited liability partnership, an amount equal to the capital contribution of the former partner actually made to the limited liability partnership.

 

patners of llp can withdrawn their capital or enhance their capital 

that will be as per  provided under the LLP Agreement and by way of amendment in the LLP Agreemen

 

 

 

 

 

Since at the time of conversion, shares would have been taxed as a result of transfer, there are no restriction on the withdrawal of capital by partners.


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