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Can partnership firm gives loan to public

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Querist : Anonymous

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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
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CA.Vinita Gupta

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CA.Vinita Gupta (Expert)
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
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