Hi All,
Pls clarify can a ltd. company become partner in partnership merely on the basis of Board resolution.
further is there any limit for amount to be invested or ulimited investment is possible.
Jyotika (study study n study) (147 Points)
02 April 2011Hi All,
Pls clarify can a ltd. company become partner in partnership merely on the basis of Board resolution.
further is there any limit for amount to be invested or ulimited investment is possible.
CA Sandeep Kumar
(Audit Assistant)
(804 Points)
Replied 03 April 2011
yes partnership is allowed no issues..
section 372A not applicable to such investments..
CA Sandeep Kumar
(Audit Assistant)
(804 Points)
Replied 03 April 2011
Check MOA for related objects, if allowed in MOA to form partnership with the purpose of carrying on any business as specified in MOA, then its OK,.
Jyotika
(study study n study)
(147 Points)
Replied 04 April 2011
Thats fine but is there any limit, further if a company is investing money from time to time in partnership firm and withdrawing it as per convinience is it ok........how this should be complied in secretarial records
CA Sandeep Kumar
(Audit Assistant)
(804 Points)
Replied 04 April 2011
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