Monday, July 15, 2013

NBFC not to be partners in LLP, AOC & Partnership Firms

The Reserve Bank of India (RBI) has said that Non Banking Financial Companies (NBFCs) are prohibited from contributing capital to any partnership firm or to be partners in partnership firms. Partnership firms will also include Limited Liability Partnerships (LLPs) and Association of Persons (AOPs). In cases of existing investments, NBFCs are advised to seek early retirement from the partnership firms/LLP/AOP.

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