formation of partnership firm
This query is : Resolved
RANJEET SINGH
(Querist)
19 January 2009
a pvt/public co can become a partner in a partnership firm.
or pvt/pub co can form a new partnership firm.
rds
caranjeet singh
or pvt/pub co can form a new partnership firm.
rds
caranjeet singh
CA Debasish Banerjee
(Expert)
20 January 2009
Yes
A Pvt / Public Limited Company is an artificial entity and has all the rights of any legal entity regarding entering into partnership, if and only if, it is not debarred to do so by its memorandum or articles. An artificial entity can enter into any agreement / contracts only through its representative / (s) and the representative / (s) acting on behalf of the Company should be otherwise properly authorised to do so.
Partnership can be between individuals / legal entities. You know what is a legal entity .. see the income tax act to get a list of all legal entity.
A Pvt / Public Limited Company is an artificial entity and has all the rights of any legal entity regarding entering into partnership, if and only if, it is not debarred to do so by its memorandum or articles. An artificial entity can enter into any agreement / contracts only through its representative / (s) and the representative / (s) acting on behalf of the Company should be otherwise properly authorised to do so.
Partnership can be between individuals / legal entities. You know what is a legal entity .. see the income tax act to get a list of all legal entity.
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