Partnership related query

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This discussion addresses whether a Fixed Deposit (FD) belonging to a partner, which has been pledged as security for a bank loan taken by the partnership firm, needs to be recorded in the firm's accounting books. The consensus is that the FD itself is not required to be shown in the books of the partnership firm.

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(Querist)
27 May 2020 Respected all, please any one can advice the following.
partnership firm taken a loan from bank and one partner give his FD as security to the bank.
my question is whether this FD to be shown in the books of partnership firm or not?
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
27 May 2020 Not necessary to show the deposit details in the books of the firm
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CA Sindhu KJ

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CA Sindhu KJ (Expert)
27 May 2020 Not required to be shown in books of Partnership firm
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