Managing partners

Lakshmi Muralidharan (Student) (119 Points)

16 December 2014  

1.Can a partnership firm have more than 1 managing partner?

2.Out of 6 partners can 3 of them be appointed as managing partners?

3.If yes, assuming there are 3 managing partners, can there be a clause in the deed that either of the managing partner can sign in the bank transactions/authorisations and other major contract approvals ??

4.Will this be in violation to any of the laws prevailing in India??