Partnership

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Querist : Anonymous

Querist : Anonymous (Querist)

12 March 2012 I am presently a director of a closely held Pvt. ltd. . Now ; i have started a partnership with a new person for new development. In this new partnership we plan to open branches in different cities taking new local partners . Is this possible to have new partners in the branch of same parent partnership ? If not; what is the best way to 1. Maintain our Ownership 2. Control finances from a single point 3. Satisfy the branch partners's concern for their ownership.

Ajay Mishra

Ajay Mishra (Expert)
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12 March 2012 Hi

You are free to do any business like opening of partnership firm if you are directors of a closely held company or not. There is no restriction.

Regards

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Querist : Anonymous

Querist : Anonymous (Querist)

12 March 2012 i need your advice on what is the best way to 1. Maintain our Ownership 2. Control finances from a single point 3. Satisfy the branch partners's concern for their ownership.

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Ajay Mishra

Ajay Mishra (Expert)
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12 March 2012 Hi

For this you should be an active partner on firm. Keep himself decision making point. Keep trust on some person on every branch and have keep in touch. Take suggestion from other partners from the respected branch accordingly.

Regards

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Querist : Anonymous

Querist : Anonymous (Querist)

12 March 2012 Sir, My query is :How in the branch of the same partnership/company I can introduce a new partner who will be partner in the profit/loss of the branch only and not in the parent company . Is it possible OR i have to open different companies in different cities and then the Parent partnership firm will enter into partnership with the respective city partner.

Ajay Mishra

Ajay Mishra (Expert)
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12 March 2012 It is not good option to open company in different states. Open branches in other states.

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Querist : Anonymous

Querist : Anonymous (Querist)

12 March 2012 Sir, I agree, but when there is a new partner in every state ;how will he become a legal partner in the branch when we donot want him as partner in parent company .

Ajay Mishra

Ajay Mishra (Expert)
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12 March 2012 ok.....do the same as u wish

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Querist : Anonymous

Querist : Anonymous (Querist)

12 March 2012 sir,there is no alterantive way of doing this?