CA Act 1949

This query is : Resolved

CA Ysil Karunai (Querist)
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30 July 2010 Dear sir,
A qualified CA who is in full time employment, started a firm with two of his friends as practicing CA's. But he admitted as a sleeping partner and share only profit or loss?
Query:
1. Whether he need a COP?
2. Is there any misconduct of all or any of the CA's by admitting a CA who is in full time employment?

CA. Anoop Gadia

CA. Anoop Gadia (Expert)
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30 July 2010 1. yes
2. yes.

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
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30 July 2010 The sleeping partner must Hold a certificate of practise.

Secondly admitting as partner in to a firm to a CA who is full time in employment..This is also amounting to Professional misconduct

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