CLARIFICATIONS ON NBFC - NOT TO BE PARTNERS IN PARTNERSHIP FIRMS

ISSUING AUTHORITY : RESERVE BANK OF INDIA

DATE OF ISSUE : 11/06/2013

CIRCULAR : DNBS.PD/CC.NO.328/03.02.002/2012-13

NBFCs were prohibited from contributing capital to any Partnership Firm or to be Partners in Partnership Firms vide Circular  CC.NO.214/03.02.002/2010-11 dated March 30, 2011.

 

Below mentioned clarifications are issued in this connection:

1. Partnership Firms will also include Limited Liability Partnerships (LLP) and Association of Persons (AOP).
2. NBFCs which had already contributed to the capital of a LLP/AOP are advised to seek early retirement from LLP/AOP.

For detailed Circular, log on to the Link given below:

DNBS.PD.CC.NO.328/03.02.002/2012-13