Professional registration requirement tightens firm eligibility under amended Companies Act provisions for partnership composition. Section 141 of the Companies Act, 2013 is proposed to be amended by inserting a further proviso requiring every partner of the firm to be registered with ... Summary
Professional registration requirement tightens firm eligibility under amended Companies Act provisions for partnership composition.
Section 141 of the Companies Act, 2013 is proposed to be amended by inserting a further proviso requiring every partner of the firm to be registered with a statutory institute or body established under Indian law and empowered to grant such registration. The amendment adds a professional qualification and registration condition to the composition of the firm under the provision.
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