Partnership business

This query is : Resolved

Susmit Nandi (Querist)
Follow

18 September 2016 If partnership business is registered ......I mean written partnership deed then .......it will be a body corporate ?

Unnikrishnan B

Unnikrishnan B (Expert)
Follow

18 September 2016 No except LLP partnership firm is not considered as body corporate even if it is registered under registrar of firms

Susmit Nandi

Susmit Nandi (Querist)
Follow

18 September 2016 But it is formed by law .....in spite of not it ......why .....may I know ?

Upgrade to CAclubindia Pro. Subscribe Now!

Unnikrishnan B

Unnikrishnan B (Expert)
Follow

18 September 2016 Madam,Partnership firm do not have seperate legal entity.Partners have the liabilities for the loan advanced to the firm .
.Registering the firm the partners gets the authority to sue others .but the legal entity is not as body corporate