Indian partnership definition

Indian partnership means a partnership in which at least 51% of the investment is made by Indians, at least 51% of the equity is owned by Indians and at least 51% of the profits or losses accrue to Indians.
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Examples of Indian partnership in a sentence

  • In case of a firm not registered under the Indian partnership act, all the partners or the Attorney duly authorize by all of them shall sign the tender document and all other concerned documents.

  • In the event of absence of any partner, it must be signed on his behalf by a person holding power of attorney which shall be attached along with the tender and it must also disclose that the contractor is duly registered under the Indian partnership Act or not.

  • If the Revolving Credit Facility were made as of May 1, 2006, the interest rate based on the prime rate would be 10.25% per annum and the interest rate based on LIBOR would be 8.56% per annum.

  • In the event of absence of any partner, it must be signed on his behalf by a person holding power of attorney which shall be attached along with the tender and it must also disclose that the contractor is duly registered under the Indian partnership Act or not.1.17 The notice inviting tender shall form part of the contract document.

  • The solution for this question is as follows: DISTRIBUTION OF PROFITS Harshad Claims:Decisions(i) If there is no agreement on interest on partner’s capital, according to Indian partnership act 1932, no interest will be allowed to partners.(ii) If there is no agreement on the matter of profit sharing, according to partnership act 1932, profit shall be distributed equally.

  • The partnership firm should have been in existence or should have been formed prior to submission of tender.Partnership firm should have either been registered with the competent registrar or the partnership deed should have been notarized prior to date of tender opening, as per Indian partnership Act.

  • Answer : The following are the main provisions of the Indian partnership Act, 1932 that are relevant to the partnership accounts in absence of partnership deed.

  • Whenever there is dispute for the distribution of profits in such a case provisions of Indian partnership act 1932 are applicable on the other hand if partnership is formed by two or more persons for the purpose of charitable activity, it will not be termed as partnership.

  • Any investment by foreign entities is permitted in Indian partnership firms subjectto prior approval of RBI.

  • Partnership firm should have either been registered with the competent registrar or the partnership deed should have been notarized prior to date of tender opening, as per Indian partnership Act.4. Separate identity/name should be given to the partnership firm.

Related to Indian partnership

  • General partnership means an organization formed under chapters 45-13 through 45-21.

  • Operating Partnership has the meaning set forth in the preamble.

  • Partnership Subsidiary means Host LP and any partnership, limited liability company, or other entity treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes in which either Host REIT or Host LP owns (or owned on or after January 1, 1999) an interest, either directly or through one or more other partnerships, limited liability companies or other entities treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes (whether or not Host REIT or Host LP has a controlling interest in, or otherwise has the ability to control or direct the operation of, such entity). Notwithstanding the foregoing, the term “Partnership Subsidiary” shall not in any way be deemed to include the Non-Controlled Subsidiaries or subsidiaries thereof, the Taxable REIT Subsidiaries or subsidiaries thereof, or the Subsidiary REITs or subsidiaries thereof.

  • Partnership has the meaning set forth in the preamble of this Agreement.

  • Limited partnership means a limited partnership registered or formed under any law in force in Singapore or elsewhere;

  • Limited liability partnership or “LLP” shall mean a Company governed by Limited Liability Partnership Act 2008 or as amended.

  • Operating Company means an “operating company” within the meaning of 29 C.F.R. §2510.3-101(c) of the Plan Asset Regulations.

  • REIT means a real estate investment trust under Sections 856 through 860 of the Code.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Foreign limited partnership means a partnership formed under laws other than of this state and having as partners one or more general partners and one or more limited partners.

  • Subsidiary of the Company or “Subsidiary” means a corporation, a majority of the outstanding voting shares of which is owned, directly or indirectly, by the Company or by one or more subsidiaries of the Company and, as used in this definition, “voting shares” means shares of a class or classes ordinarily entitled to vote for the election of the majority of the directors of a corporation irrespective of whether or not shares of any other class or classes shall have or might have the right to vote for directors by reason of the happening of any contingency;

  • GP means Gottbetter & Partners, LLP.

  • Borrower Partnership Agreement means the Limited Partnership Agreement of the Borrower dated as of January 17, 2014 as such agreement may be amended, restated, modified or supplemented from time to time with the consent of the Administrative Agent or as permitted under Section 10.10.

  • General Partner means the Company or its successors as general partner of the Partnership.

  • Foreign limited liability partnership means a partnership that:

  • Partnership Entities means the General Partner and each member of the Partnership Group.

  • Holdings has the meaning specified in the introductory paragraph to this Agreement.

  • Domestic partnership means an association of two or more persons to carry on as co-owners a

  • Subsidiary Partnership means any partnership or limited liability company that is a Subsidiary of the Partnership.

  • Surviving Partnership has the meaning set forth in Section 11.2.B(ii) hereof.

  • REIT Partner means (a) the General Partner or any Affiliate of the General Partner to the extent such person has in place an election to qualify as a REIT and, (b) any Disregarded Entity with respect to any such Person.

  • Foreign partnership means an association of two or more persons to carry on as co-owners of a

  • MLP has the meaning given such term in the introduction to this Agreement.

  • MLP Partnership Agreement means the Amended and Restated Agreement of Limited Partnership of the MLP, as amended or restated from time to time.

  • Partnership Entity means any of the Partnership Entities.

  • Single member limited liability company means a limited liability company that has one direct member.