29 May 2010
Does investment under Section 372 A cover investment in the capital of a partnership firm ? In other words,is a partnership firm included in the definition of a Corporate Body ?
29 May 2010
A partnership firm do not have a legal characteristics of a juridical person and hence cannot be called as a body corporate for the purpose of section 372A. Pl refer section 2(7) of the Companies Act,1956 also.
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