17 October 2008
Can a partnership firm be a partner in another partnership firm. say A&B Firm has 2 patners - A & B. Now can this A&B firm hold substantial interest (say 90% etc)in another firm like C&D Firm?
22 October 2008
no it cant since it is not a seperate legal entity. that is members and firm is one and the same. and liability of the firm extend to personel assets of the partners
CAclubindia
