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managing director is partner in firm

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(Querist)
23 September 2016 can MD of company be a partner in partnership firm with which company is doing trading and whether it will be treated as related party that MD has to disclose his interest in this firm to the board
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Amol S Joglekar

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Amol S Joglekar (Expert)
23 September 2016 it is related party transaction. The same should be disclosed.
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