Success quote

“When I was young I observed that nine out of ten things I did were failures, so I did ten times more work.” - Bernard Shaw.
Subscribe for Free Updates


NBFC s not to be partners in LLP / AOP s- RBI clarification

RBI issued a clarification on 11.06.2013 on subject of Non-Banking Financial Companies (NBFC) becoming partners in  Limited Liability Partnership(LLP) s. The Central Bank had earlier issued a notification dtd 30.03.2011 prohibiting NBFC s from contributing to capital or becoming partners in Partnership firms. In yesterday' s notification, RBI clarified that this prohibition would also apply to contributing to capital or becoming partners in LLP and Association of Persons (AOP). The NBFC s who have contributed to capital/became partners in Partnerships/LLP/AOP shall retire from the same at the earliest.

No comments:

Post a Comment

We would love to hear from you on this topic.

Related Posts Plugin for WordPress, Blogger...