Thanks for the support which you have provide me time to time for my queries.
Pls. help me to sort out the below mentioned matter:
Our company has 20 and above sister concern partnership firms and LLP's. we are a real estate company and running the same business in all the sister concern co.'s and firms.Now, the two partners of our company also always acted as a partners/ dsesignated partners in partnership firms and LLP's respectively.
They both have executed a regd. GPA on behalf of one of our employee for admission and execution of docs before any authority. The docs are signed by the original partners also.
My queries are:
1) Whether such act of the partners is valid as per the Indian Partnership Act and Limited Liability Partneship Act? As per my knowledge, with the consent of other partners, the partners can do so. whether it is correct?
Pls. give me your opinion.
2) Both the partners are whole time director in a public ltd. co. ans also include the said co. in GPA also. whether it is correct?
3) For most of the firms the consent of the partners are not take officially, as the partners belongs to HUF.
4) In the said GPA it is clearly mentioned that the GPA is activate in case of future firms/co.'s in which the partners are acting as partner/designated partner/director. Whether it is valid?
5) The local registry office is advised that whenever you form a new co./firm create the new regd.GPA for the said firm/co. and the cl. 4 doesn't accepted by them.Is it beneficial for me to excute the new regd. GPA whenever the new co./firm is formed.
I'm so confused in respect of this matter.Pls. provide me the solution.