"To take one's leave" is an old-fashioned expression meaning, essentially, to leave. However, it is one's own leave that one takes; for example, "I took my leave" or "He took his leave". You cannot take someone else's leave, as far as I know.
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tufguySo, what we should say if we are talking to someone or sitting with few people and we want to leave "May I take leave of you now"?No. If you want to obtain the other people's permission you can say "Is it OK if I Ieave now?" or "Do you mind if I leave now?". If you do not want or need to ask permission, you can say "Well, I ought to be going now" or "I'