Hi All..
'X Pvt Ltd' is a partner in a partnership firm and 'Mr. A' represents X Pvt Ltd in the firm. The queries are:
1) Can the company through Mr. A be a working partner in the firm?
2) If so, can the company/ Mr.A claim remuneration from firm?
jamsheed adam (CA) (45 Points)
11 April 2012Hi All..
'X Pvt Ltd' is a partner in a partnership firm and 'Mr. A' represents X Pvt Ltd in the firm. The queries are:
1) Can the company through Mr. A be a working partner in the firm?
2) If so, can the company/ Mr.A claim remuneration from firm?
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 11 April 2012
Pleae note that a company is considered as an seperate legal entity in law. So it can enter into contracts on it's own. Likewise the co on it's own account can become a partner of the firm. So as aksed by you in the question Mr X cannot represent his co in the firm as the co itself is a seperate legal entity.
Thus only the co co can claim remuneration from the firm.
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