Dear All,
Kindly advise whether is it a compulsion that on conversion of private company into LLP the contribution to be bought by the partners should be equal to the paid - up capital of the company. Kindly revert at the earliest.
Members views are appreciated
Warm Regards,
Sweta
No, There is no such compulsion . the capital contribution of LLP will be decided by its partners
|
S. No
|
Conditions
|
LLP
|
Company
|
Partnership
|
|
9.
|
Remuneration to Managerial Personnel
|
Remuneration to partners will be determined on LLP Agreement
|
Remuneration to Directors of Public Companies are governed by Companies Act
|
The firm can pay remuneration to its partners
|
|
10.
|
Liability of Partners/ Members
|
Limited to the extent of contribution towards LLP
|
Limited to the amount of share capital agreed to be contributed on each share
|
Partners have unlimited liability
|
|
11.
|
Capital Contribution
|
Determined by partners as per the LLP agreement.
|
Limited to the unpaid amount of share capital agreed to be contributed
|
Unlimited may extend to their personal assets
|
You can confirm the same from below link also
/articles/print_this_page.asp?article_id=2503
Synergy Keystone
Mumbai
CA
View Details
Austin Med Solutions Pvt Ltd
Bengaluru
CA
View Details
CCI
Pro
CAclubindia
