CAN PARTNER SHIP FIRM PURCHASE SHARE

A p'ship firm can not purchase shares of a company in its own name and cannot became member of a company due to its non-perpetual existance.

However partners of a firm may purchase shares of a company in their own name and became member of a company. 

agree

Agree with Ankur Ji, In addition partners can hold shares on behalf of firm. If purchased out of firm's money

agree with ankur sir...partner ship firm can hold share on the name of his partner...here partner will be registered owner and firm would be beneficial owner

agree

Yes, agree with gunmaster also

Partnership firm cannot purchase shares in its name because it is not a legal entity in the eyes of law. Only the partners can purchase shares in their name.

In case where any shares are held by partner of the partnership firm (on behalf of the firm) then, is there any compliance under companies act to be complied with?

Pls tell me, its urgent.