Managing partners

Others 4374 views 2 replies

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??

Replies (2)

yes, a partnership firm may be having more than one managing partner.

yes, 3 out of 6 can be managing partners.

there is no prohibition in any law.

In Companies Act, there is aprovision of 2 MDs, so simultaneously as per my understanding partnership firm can also have more then 1 MP.

Regards

Swati Sethi

swati.sethi05 @ gmail.com

The answer to all your question is "YES". There is no problem or legal restriction in any situtation asked


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