Interest on partner capital

[Guest]

Whether there is any minimum interest clause in case of not mentioneing the interest part like in partnership 6% on partner capital?

[DR.MARIAPPAN GOVINDARAJAN]

In my view there is no such clause for minimum interest.

AI Summary

Minimum interest on partner capital: no statutory minimum applies where the partnership agreement is silent on interest. The operative position is that there is no statutory minimum interest on partner capital; if a partnership agreement is silent on interest, partners are not entitled to a prescribed minimum rate.