Mansi Airi Gambhir enrolled with the Delhi Bar Council in 2009 and holds Masters in Corporate Laws f... Read More
Process of Retirement under LLP
How is retirement dealt with in an LLP?
- Sector-1, Noida
An LLP agreement will usually provide that a member wishing to leave gives e.g. 6 or 12 months’ notice. He or she then has the right to receive undrawn profits and the credit balance on his/her capital account. This can destabilise the LLP, but to avoid this you can have a repayment by instalments e.g. 10 years.
Answered on 28 Sep 2018
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