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Can a partnership firm Formed by contributing Capital in CAS

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(Querist)
15 July 2009 Three persons formed a Partnership Firm by contributing Rs.4,00,000/- each from their individual file. But on the date of Agreement, Firm have no any Bank A/c . Can a partnership firm Formed by contributing Capital in CASH ?
Thanking You.
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Chandresh Pitroda

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Chandresh Pitroda (Expert)
15 July 2009 I think partners can form Partnership.

As only after getting registered as Partnership Firm and based on agreement only Bank will open an account in the name of Firm.
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Late CA Sampat Jain

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Late CA Sampat Jain (Expert)
15 July 2009 YES
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