SIR WE ARE PARTNERSHIP FIRM DOING THE TRADING BUSINESS. IN OUR FIRM MYSELF AND MY WIFE WERE PARTNERS AND WE HAVE MADE A TRUST ON BEHALF OF MY SON WHO IS MINOR AND WE HAVE ADDED THE TRUST AS ONE OF THE PARTNER IN OUR FIRM
THE TRUST IS A WELFARE TRUST CREATED FOR BENEFITS OF MY SON AND WHILE OPENING THE ACCOUNT WITH THE BANK( A OLD PRIVATE SECTOR TAMILNADU BASED BANK) THE BANK OFFICIALS REFUSED TO OPEN THE ACCOUNT STATING THAT A TRUST CANNOT BE A PARTNER IN A PARTNERSHIP DEED. WHEREAS I HAVE OPENED THE ACCOUNT WITH ONE OF THE FOREIGN SECTOR BANK AND EVEN IN THE PUBLIC SECTOR BANK
I COULD NOT UNDERSTAND WHY THIS BANK IS NOT OPENING THE ACCOUNT AND I WISH TO GO FOR COMPLAIN AGAINST THIS BANK AS THE BANK MANAGER IS FOLLOWING ME FOR THE PAST TWO YEARS TO OPEN MY ACCOUNT AND NOW I HAVE CLOSED MY EXISTING BANK ACCOUNT AND GAVE THE ACCOUNT OPENING FORMS TO THIS MANAGER. BUT WHEN HE FORWARD MY APPLICATION TO THEIR BACK OFFICE THEY ARE NOT OPENIGN THE ACCOIUNT. HENCE KINLDY GUIDE ME WHETHER A PARNTER CAN BE TRUST IN A PARTNERSHIP FIRM
THE TRUST IS THE ONE WHICH WILL NOT BEAR THE LOSS OF THE FIRM BUT IT WILL TAKE THE PROFIT SHARE AND IT IS FAMIL OWNED TRUST CREATED ON BEHALF OF MY ONLY SON. ON BEHALF OF TRUST I AM THE SIGNING AIUTHORITY.
KINDLY GUIDE ME
