Can a pvt ltd co be a partner in partnership firm

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 September 2013 sir i have a client where there are 3 directors in the pvt ltd co, the same directors have formed a seperate partnership firm where in all 3 are partners, now they want the pvt ltd company to be added as one of the partners in that firm can they do it and what are the implication if this is possible.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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11 September 2013 YES, A private limited company can become partner in a partnership firm.

There are no requirements under the companies act 1956 and Indian partnership act 1932 in this case.

However it is always a good corporate practice to pass a board resolution.

The resolution is not required to be filed with ROC.

Ajay Mishra

Ajay Mishra (Expert)
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11 September 2013
TYPES OF PARTNERSHIP
A Partnership can be formed between:
(i) one or more individuals or
(ii) between an individual and a person representing a H.U.F. or
(iii) between an individual and other partner representing his firm, or between Limited Company or a Corporation and an Individual or Partnership firm, or
(iv) between two Partnership firms, or
(v) between a Limited Company or a Corporation and an individual or Partnership firm, or
(vi) between a Partnership firm and H.U.F., or
(vii) between members of HUF in their individual and independent capacity, and
(viii) between a HUF and a member of that HUF independently.

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