if, i Have a LLP and i am trading in stock market by my LLP
4 years ago
if, i Have a LLP and i am trading in stock market by my LLP . what happen if my LLP have big Losses in stock market one day and My LLP don’t have enough money and assets to pay Losses…i’m personally liable for pay the losses or not?
Pavan kumar Gudipati
Responded 4 years ago
A.LLP is Limited Liability Only. Your personal assets will not be used or considered. Only, if it is Fraud by LLP/Company, Court may use the power to consider personal properties.
The LLP will be a separate legal entity, liable to the full extent of its assets, with the liability of the partners being limited to their agreed contribution in the LLP which may be of tangible or intangible nature or both tangible and intangible in nature. No partner would be liable on account of the independent or un-authorized actions of other partners or their misconduct. The liabilities of the LLP and partners who are found to have acted with intent to defraud creditors or for any fraudulent purpose shall be unlimited for all or any of the debts or other liabilities of the LLP.
More details with your case, contact me.
The LLP will be a separate legal entity, liable to the full extent of its assets, with the liability of the partners being limited to their agreed contribution in the LLP which may be of tangible or intangible nature or both tangible and intangible in nature. No partner would be liable on account of the independent or un-authorized actions of other partners or their misconduct. The liabilities of the LLP and partners who are found to have acted with intent to defraud creditors or for any fraudulent purpose shall be unlimited for all or any of the debts or other liabilities of the LLP.
More details with your case, contact me.
Helpful
Helpful
Share
Sonam Priya
Responded 4 years ago
A.Sir,
If you are trading by your LLP, then you, your partners and the LLP all are liable for the losses.
This is the general rule.
If you are trading by your LLP, then you, your partners and the LLP all are liable for the losses.
This is the general rule.
Helpful
Helpful
Share
Sourav Ghosh
Responded 4 years ago
A.Trading in stock market is always a matter of gambling.. U may either won or lose.. In case of lose, whether u will be personally liable or not, it depends upon terms and conditions which u agreed at the time of entering into the stock market dealings.. .
Helpful
Helpful
Share
Read Related Answers
For bank loan
Dear Client,
the loan amount must be repaid by the legal heirs of the deceased or the nominee by the deceased if the assets would be frozen by the bank. there is no other legal remedy to non payment
Bankruptcy and Debt
Dear sir,
You may join any reputed NGO and render your personal service where you can get at least free accommodation and boarding.
Strong Legal Notice--Recovery of amount
Dear Client,
Unfortunately, there are no legal remedies for illegal issues. A contract for an illegal purpose is void from the beginning and in case such an illegal act is revealed from any source, bo...
Bajaj Fin Overdraft loan default
Dear Client,
A borrower of a loan or debt is held liable personally for his or her debt for non-payment of the outstanding amount of the loan. Once the repayment of the loan stops or bounces for cons...
Unsecured busniess loan default
Dear Client,
Under the CGTMSE Scheme, in case of default by the borrower subject to the overall guarantee cap amount, the liability of the Trust in respect of credit facility shall be in case of Term...
Read Blogs on Bankruptcy and Debt
Bankruptcy and Debt Lawyers
Find Lawyers by Location
