Can partnership firm gives loan to public

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2013 respected sir/madam
my query is that
1. can a partnership firm start finance business ,to gives the loan to public on interest ( petty loan to people )

2. if yes ,whether is require to register to any body (RBI or other )

thanks

CA.Vinita Gupta

CA.Vinita Gupta (Expert)
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27 March 2013 Loans can be given by Partnership Firm provided the Parntnership Agreement contains such clauses. Moreover consent of all the Partners are required to do such acts