Can partnerships issue commerical paper
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 March 2012
I just wanted to know if Partnerships can issue commercial paper because if i go by the RBI definition it says
Who can issue commercial paper
• Corporates, primary dealers (PDs) and satellite dealers (SDs), and the all-India financial institutions (FIs) that have been permitted to raise short-term resources under the umbrella limit fixed by Reserve Bank of India are eligible to issue CP.
• A corporate would be eligible to issue CP provided –
• the tangible net worth of the company, as per the latest audited balance sheet, is not less than Rs. 4 crore;
• company has been sanctioned working capital limit by bank/s or all-India financial institution/s; and
• the borrowal account of the company is classified as a Standard Asset by the financing bank/s/ institution/s.
A partnership meeting all these three criteria, can it issue commercial paper
Who can issue commercial paper
• Corporates, primary dealers (PDs) and satellite dealers (SDs), and the all-India financial institutions (FIs) that have been permitted to raise short-term resources under the umbrella limit fixed by Reserve Bank of India are eligible to issue CP.
• A corporate would be eligible to issue CP provided –
• the tangible net worth of the company, as per the latest audited balance sheet, is not less than Rs. 4 crore;
• company has been sanctioned working capital limit by bank/s or all-India financial institution/s; and
• the borrowal account of the company is classified as a Standard Asset by the financing bank/s/ institution/s.
A partnership meeting all these three criteria, can it issue commercial paper
CA Sumat Singhal
(Expert)
07 March 2012
NO partnership is not eligible
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