LLP AS BODY CORPORATE

[Guest]

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?

[DR.MARIAPPAN GOVINDARAJAN]

Your query is not clear. A company to get from LLP or LLP to get loan from a company. Please clarify the same.

AI Summary

Limited Liability Partnership status raises whether LLPs may lawfully lend to or borrow from companies under company law. Whether the characterization of a Limited Liability Partnership as a body corporate under section 3 means that a company can take a loan from, or give a loan to, an LLP is the central question, identifying two transactional directions and requesting statutory substantiation for the lending capacity implied by corporate status.