Legal Question in Business Law in India

Re: status of a partner in partnership firm

What exactly is your question?

Whether a Ltd Co can become a member of a partnership? Then, here goes:-

A group of partners can form a Limited company, and that company can certainly become a partner in the firm.

The otherway I understand your question, whether a partnership or its members can become members of a Co. - well, there are other postings on this interpretation of your question, only that the law will regard it as a joint ownership of shares.

Re: status of a partner in partnership firm

Yes it is possible for a group of partners in a partnership firm to for a limited company under the provisions of the Indian Companies Act.

Re: status of a partner in partnership firm

dear sir/madam

partnership is only a relation between the partners and partnership has not got distinctive legal personality as in the case of limited company having distinctive legal personality.

hence a parter in his individual capacity can form a private limited company subject to its requirement.

if the partnership firm wish to become a partner in the proposed private limited company, it requires the consent of all the partners or managing partner as per the terms of the partnership deed.

i am not able to understand the words ALONG WITH THE PARTNERSHIP FIRM.

it may perhaps mean the partnership firm being a partner in the proposed private limited company.

also there will be certain restrictrions on the partner such as NOT TO UNDERTAKE SIMILIAR BUSINESS

etc. may be duly complied.

if the partnership deed is perused a clear cut advice can be given.

Re: status of a partner in partnership firm

Under the Companies act there have to be a minimum of two share holders in a private limited company.In my opinion if a partnership firm is a registered firm it can be a shareholder in a company through its partners.