Can the same partners form another firm with same partners
This query is : Resolved
15 June 2009
friends,
Can the same partners of the firm, form another firm with same partners at the same place with the same nature of business..Is there any such resyriction?
please guide me..
Can the same partners of the firm, form another firm with same partners at the same place with the same nature of business..Is there any such resyriction?
please guide me..
Aditya Maheshwari
(Expert)
15 June 2009
Yes they can form. There is no such restriction
CA Nitin Wadhwani
(Expert)
15 June 2009
Unless there is a restriction in the partnership deed itself, but that too should be reasonable otherwise it would violate Sec.37 of the Indian Contract Act.
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