Can a society registered under societies registration Act (an AOP), become a partner in a partnership firm?
2 Replies
Sivaraman A R
(.)
(1040 Points)
Replied 27 February 2017
Dear Manoj,
An AOP registered under societies registration act has a seperate legal entity for limited purpose. Still it is not a incorporated entity like Company. So Some people are saying that it cannot be a partner.
For LLP, a patner can be only individuals and body corporate. So same contention needs to be imported to Normal Partnership firm.
There is some case laws that Supreme court has ruled that a partnership firm cannot be a partner in another firm.
A HUF cannot become a partner in another firm =.
Some people are having a different opinion that since it is a seperate legal entity , it can invest in Firms.
Thank u for ur comment
Recent Topics
- I am selling my 14 years old company rupees 4 lacs
- Applicability of REG 07 and TDS on metal scrap
- Sale Order v. Purchase order
- Income tax 143(1) after scrutiny
- Best Practices for Managing Finances in Online Gam
- FREELANCING ACCOUNTANT
- Refund Recovery Alert: IT Department Using AI to D
- Rule 47A CGST
- How can I check the platform number for my train?
- Gratuity under CTC
Related Threads
CAclubindia
