LLP AS BODY CORPORATE

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Dear Sir

As per section 3 LLP is a body corporate, does it mean that a company can loan from LLP? Sir pls subsiante with any section, if any?

AI Summary

Can a Company Legally Obtain a Loan from an LLP? Exploring Financial Transactions Under Section 3 A query was raised regarding whether a company can obtain a loan from a Limited Liability Partnership (LLP), given that an LLP is considered a body corporate under section 3. The response sought clarification on whether the question pertained to a company receiving a loan from an LLP or vice versa. The discussion highlights the need for clarity in understanding the legal framework governing financial transactions between companies and LLPs.