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Firm BVRE's legality assessed: 12 persons involved, considering dual roles as "one person" under Companies Act, Section 11(2).
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....Legality of existence of firm BVRE – number of persons vis-à-vis 4 HUFs would be 12 (15 – 3). Since Sec.11(2) of Companies Act, 1956 uses expression “Person”, number of persons who have signed partnership deed in two capacities have to be reckoned as “one person” - AT....
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