Counsel

Ask an expert! Legal, accounting and compliance advice from qualified professionals.

Share Details

0/200
0/1500

Your Question has been submitted.

The Counsel team is processing your question and connecting to the best suited professional from the community to have it answered. We’ll get back with an answer shortly.

Can an advocate in India be a sleeping partner in a partnership firm engaged in trading or production activities?

Yes. A practicing lawyer can be a sleeping partner in a partnership firm. However, there is no limit on the investment he can make in the firm.

Also, in case of a Private limited company he can be a shareholder and non-executive Director. He cannot hold positions like Managing Director or a CEO. Howe...


View answer

Looking to hire a professional from our handpicked community?

Explore our services, submit your request and let us do the rest for you.

Get started