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Firm

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(Querist)
08 December 2016 Are Partnership firms required to maintain minutes of the meeting mandatorily? Even if the Act does not prescribe is it advisable to maintain minutes?
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CA Suresh Jain

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CA Suresh Jain (Expert)
08 December 2016 There no law mandating minutes of meeting of a Partnership Firm. It is advisable to have periodical meetings of the partners and maintain Minutes of Meeting . Follow the same procedure prescribed for Meeting of Board of Directors
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