Can LLP take loan from outsider

[CS Nidhi Parekh]

Dear All

Can LLP take loan from an outsider who is not a partner of the LLP 

Also can LLP take Loan any company which is not NBFC and also not a bank 

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Regards,

Nidhi Parekh

M: 9920864341

[Naveen Kumar]

Yes..

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​Thanks & Regards

CS Naveen Kumar

(Practicing Company Secretary)

Mo. No. - 9452865114

[Rani Modi]

There are no such clauses in the LLP Act which restrict the LLP on taking loan from any one, subject to terms & conditions mentioned in the LLP Agreement if any.

Regards,

CS Rani Agrawal

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[CS Nidhi Parekh]

In llp agreement it is mentioned that Without consent of partners LLP cannot borrow 

So is it implied that LLP is allowed to borrow money from outsiders and any other company ?

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[Rani Modi]

In your case you need to take consent of partners and then LLP can borrow, as per LLP agreement.

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[CS Nidhi Parekh]

Does LLP need to first appoint person as partner and then can take loan ?

On Thu, 12 May 2022 at 8:06 PM, Rani Modi <rani...@gmail.com> wrote:

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[Rani Modi]

At the time of LLP Incorporation, there will be two partners already. Because its LLP act requirement. There should be two partners in LLP its mandatory.

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[JAI PRAKASH Jagdev]

Yes LLP can.

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