Section 24: Cessation of partnership interest.

Q: What does Section 24 of The Limited Liability Partnership Act, 2008 (LLP Act) deal with?

Section 24 LLP Act pertains to "Cessation of partnership interest.". It is part of the The Limited Liability Partnership Act, 2008, a legislation enacted by the Parliament of India. Section 24 of The Limited Liability Partnership Act, 2008 (LLP Act) governs cessation of partnership interest. As verified on 19 May 2026.

Q: Is Section 24 LLP Act still in force?

Yes, Section 24 of the The Limited Liability Partnership Act, 2008 is currently in force across the Republic of India.

Q: What is धारा 24 LLP Act?

धारा 24 LLP Act is the Devanagari Hindi reference for Section 24 of the The Limited Liability Partnership Act, 2008. Section 24 of The Limited Liability Partnership Act, 2008 (LLP Act) governs cessation of partnership interest. As verified on 19 May 2026.

Q: What is Dhara 24 LLP Act?

Dhara 24 LLP Act is the Roman Hindi reference for Section 24 of the The Limited Liability Partnership Act, 2008. "Dhara" means "Section" in Hindi. Section 24 of The Limited Liability Partnership Act, 2008 (LLP Act) governs cessation of partnership interest. As verified on 19 May 2026.

Q: How to cite Section 24 of The Limited Liability Partnership Act, 2008?

Cite as: "Section 24, The Limited Liability Partnership Act, 2008 (LLP Act)" in legal briefs. For academic writing, use the BlueBook format: The Limited Liability Partnership Act, 2008, § 24 (India).

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(1) A person may cease to be a partner of a limited liability partnership in accordance with an agreement with the other partners or, in the absence of agreement with the other partners as to cessation of being a partner, by giving a notice in writing of not less than thirty days to the other partners of his intention to resign as partner.

(2) A person shall cease to be a partner of a limited liability partnership—

(a) on his death or dissolution of the limited liability partnership; or

(b) if he is declared to be of unsound mind by a competent court; or

(c) if he has applied to be adjudged as an insolvent or declared as an insolvent.

(3) Where a person has ceased to be a partner of a limited liability partnership (hereinafter referred to as "former partner "), the former partner is to be regarded (in relation to any person dealing with the limited liability partnership) as still being a partner of the limited liability partnership unless—

(a) the person has notice that the former partner has ceased to be a partner of the limited liability partnership; or

(b) notice that the former partner has ceased to be a partner of the limited liability partnership has been delivered to the Registrar.
(4) The cessation of a partner from the limited liability partnership does not by itself discharge the partner from any obligation to the limited liability partnership or to the other partners or to any other person which he incurred while being a partner.

(5) Where a partner of a limited liability partnership ceases to be a partner, unless otherwise provided in the limited liability partnership agreement, the former partner or a person entitled to his share in consequence of the death or insolvency of the former partner, shall be entitled to receive from the limited liability partnership—

(a) an amount equal to the capital contribution of the former partner actually made to the limited liability partnership; and

(b) his right to share in the accumulated profits of the limited liability partnership, after the deduction of accumulated losses of the limited liability partnership, determined as at the date the former partner ceased to be a partner.

(6) A former partner or a person entitled to his share in consequence of the death or insolvency of the former partner shall not have any right to interfere in the management of the limited liability partnership.