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Partnership firm in lending and borrowing business

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 April 2013 PLEASE LET ME KNOW THAT WHETHER A PARTNERSHIP FIRM CAN START BUSINESS OF FINANCING .
ALSO TELL THE RESTRICTIONS BY ANY LAWS i.e rbi aCTOR OTHERS IRT ITS OPERATIONS AND THE DIFFICULTY IT MAY FACE IN FUTURE.
WILL IT BE COVERED UNDER NBFC DEFINITION.
THE PARTNERS HAVE THEIR OWN FUNDS.
PLEASE DO REFER TO SECTION 45S OF RBI ACT AND
TELL ME THE NATURE OF BUSINESS TO WRITTEN IN THE PARTNERSHIP DEED.
i.e WHETHER FINANCING, LENDING OR BORROWING, FUNDING, ANY OTHER SUITABLE NAME.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
06 June 2013 You have to procure money landing licence duly approved by RBI
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