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Power of AO to Grant Stay — Whether Discretionary or Controlled By the Instructions and Circulars
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Tax Implications in the Hands of Successor / Resulting Company
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Capital Gains Tax Implications in Singapore on Capital Reduction or Liquidation
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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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