CA. VINOD KUMAR SABHARWAL (PROPRIETOR) (24 Points)
11 December 2012Q1 Whether a Pvt Ltd Co can be a partner with 80% share (The existing partner's share will get reduce) in an existing partnership firm of two persons?
Q2 After becoming partner can company invest (introduce capital) in kind by transferring Plant & Machinery in that partnership firm?
Q3 Whether company can outsource Job work to that partnership firm?
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Jayalakshmi Anshuman
(Chartered Accountant)
(69 Points)
Replied 12 December 2012
A company can become a partner in a partnership firm provided it is allowed as per its Memorandum & Articles.
There is no bar in infusing capital in kind, again subject to its MOA / AOA.
No bar in outsourcing work to the firm, subject to provisions of MOA / AOA / companies act.
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