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Audit Trail Compliance in Accounting Software
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Analysis of the Decision of the Supreme Court in Safari Retreats
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Gifts and Loans — By and To Non-Resident Indians – II
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Legal Considerations for Start-Ups – Are you overlooking some?
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ATR & AQMM – Audit Reports of Auditors!
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भारत पहले – 75 Year of Independence
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President and CEO of The Institute of Internal Auditors
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May 2011

NBFCs not to be partners in partnership firms

By Sejal Vasa Company Secretary

Reading Time 1 mins

RBI has noticed that some NBFCs have made large investments in the capital to partnership firms. In view of the risks involved in NBFCs associating themselves with partnership firms, RBI has now decided to prohibit all NBFCs from contributing capital to any partnership firm or to be a partner in partnership firms. In cases of existing partnerships, NBFCs may seek early retirement.

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