Advertise With Us

    Does "Body Corporate" includes Partnership Firm under Section 186 Inbo

    Posted By : damini / Published on : 05-Dec-2019 12:04 PM / View : 2717 / Comment : 2

    Print button
    Dear Respected Members,

    A Company invested some amount in Partnership Firm.

    I have two query in that regard.
    1. Will that invested amount come within the calculation of Section 186?

    2. Is there any violation under the Co. Act to invest amount in Partnership Firm?
    Read more on : under section inbo firm partnership body corporate includes does

    • No, a Partnership Firm is not considered a "Body Corporate" under Section 186 of the Companies Act, 2013.

      As per the definition provided in Section 2(11) of the Companies Act, 2013, a "Body Corporate" means a company as defined in Section 2(20) of the Act, a limited liability partnership, a registered society, or any other entity incorporated under any other law for the time being in force.

      Therefore, a Partnership Firm, which is not incorporated under any law, does not fall under the definition of a "Body Corporate" and hence is not covered under Section 186 of the Companies Act, 2013.

      However, it is important to note that a private company making investments in a Partnership Firm or providing loans, guarantees or securities to a Partnership Firm would still need to comply with the applicable provisions of the Companies Act, 2013 and the rules made thereunder. For example, the private company may need to comply with the provisions relating to related party transactions as per Section 188 of the Companies Act, 2013.

      19-04-2023 / 10:46:58 AM
      Reply
    • The web version of RobTop Games' popular rhythm-based platformer Geometry Dash is called geometry dash online. The online version, which is often played through web browsers, follows many of the same guidelines as the desktop and mobile versions.

      20-08-2024 / 09:44:16 AM
      Reply
    Please Select File:



Other Queries from damini
Unanswered Queries
Like us on Facebook
Follow Us on Twitter

We are always here to help you. Don’t hesitate to contact us anytime!

+91-9988424211 or ask@compliancecalendar.in