Dear Members
In a new LLP incorporated in July 2019, the Designated Partners had agreed to make a contribution (monetary) of Rs 10 Lakhs as per LLP agreement. Now due to slowdown, there is a delay in getting the required contribution . Small part amount may come in before 31/03/2020, but large portion may come after 31/03/2020.
We referred to Sec 32 & Sec 33 of LLP act, but it is silent on the time period within which partners are required to bring in the contribution.
Request members to advise whether
1) Is it okay to bring the capital after 31/03/2020 since form 11 also provides separate field for 'obligation of contribution' and 'contribution received'
2) Does the ROC send any notice or intimation if the 'contribution received' is less than the 'obligation of contribution'