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Prasanth kumar Kamisetty

Prasanth kumar Kamisetty

CA Foundation

11K+

06-Aug-20 10:11

24

BCK Introduction

Sir In LLP THE liability of partners is limited If total liability is 50lakhs and partners liability is only 25lakhs who will pay remaining amount

Answers (4)

Suraj Lakhotia

Suraj Lakhotia

Admin

07-Aug-20 06:35

No one. That is loss for the creditors.

Prasanth kumar Kamisetty

Prasanth kumar Kamisetty

CA Foundation

11K+

07-Aug-20 07:57

But is not like some unjustice Is it the same case in companies

Suraj Lakhotia

Suraj Lakhotia

Admin

07-Aug-20 07:58

Limited liabilities concepts work in this way. Look at a lot of companies which have gone bankrupt. Banks have not been able to recover the loans given (Kingfisher, Jet Airways, Reliance ADAG Group companies). That is the risk stakeholders take in business.

Prasanth kumar Kamisetty

Prasanth kumar Kamisetty

CA Foundation

11K+

07-Aug-20 08:01

Ok sir