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
No one. That is loss for the creditors.
Prasanth kumar Kamisetty
But is not like some unjustice
Is it the same case in companies
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.