can LLP take loan

[sandeep sharma]

Dear all,

please spare your time and give me some idea about LLP

1) can a LLP have debit balance of partners. OR LLP should maintain minimum contribution as per llp agreement.

2) cam LLP take unsecured loan from partners or from any other person.

thank in advance.

AI Summary

LLPs Can Have Partner Debit Balances; Must Meet Minimum Contribution and Legal Requirements for Unsecured Loans. An LLP can have a debit balance of partners, but it should adhere to the minimum contribution requirements as specified in the LLP agreement. Additionally, an LLP can take unsecured loans from partners or other individuals, provided it complies with the terms outlined in the LLP agreement and relevant legal regulations.