Independent Branch

This query is : Resolved 

06 November 2008 Say "A" a partner of A & Co a chennai based CA firm has an independent branch at mumbai BC & Co (a partnership firm; A, B & C are partners). A's share is 60% and balance is shared by B&C equally. All the activities like operations, professional work etc of BC & Co are taken care of by B&C. If there is any professional misconduct because of B or C while performing duties on behalf of BC & Co what are its implications on A. Will A also be held responsible.

07 November 2008 If A is a partner of that firm, how can A plead ignorance? On what basis?

07 November 2008 Since A who is in chennai & is not involved in the operations of the said firm; and B& C are charged with governance, directing the firm's work etc.


07 November 2008 THat stand can not be taken in my opinion.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries