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No.MIS-1984/1226/DQM' Datedthe 2"4thAugust,~4.
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Sub: Admitting iKarta
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ofHUF to
join as partner in thepartnership
finn -
. ; ,b- t' r- 1) .f l'ar, J )f Resolution No.1625passed
.;: ~, ,ct i. n,; neldor: 23-,~-1981. A copyof the said
~xplar.atiOfl is enclosed for ready reference.
j:" So=: MIDCwas,not pe.rrnitting 'Karta' ot,
HUPto join a,. s partner in the partnership finO: while
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~.'.allotting
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plots/sheds in the industrial ar~~s.
quest~bnwasreviewed in consul tad.on ~.
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it has beendecided:~ -t while'"';\
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to the entrepreneurs '~arta'
The
theLegal Advis,erand
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,'; allotting p.l:6ts/sheds
11' , .".~.- .-
..~j/bf HUPmaybepennitted to join asP?rtner of the
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t partnership firmsubject to the following conditions:
i) Anindemnity bondin theprescribed form
may be obtained fromsuchpartners of the partnership
f t . . . "
firmin which"Kartaof HUF"has beenallowed tcf.be
inducted as apartner of the ~id partnership firm
indemnifying the Corporation fromanyclaims fer
damagesagainst the Cerperation in the event there
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~is adispute amongst themembersof the HUFandany
; one or moreof suchmembersof theHUPclaimhis .or
< \ .
.'their share in the CorporationIsproperty agreed to
beleased .or already leased.
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ii) In addition, anundertaking rniilY als,? be
'~co-btainedto the effect that Licensee/Lessee will not
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sub-divide the plot except with the'p.rior permllssidn
of tlleCOrT'0rationwhichcould bepermitted subject
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to tJ ~,; building regulations app.lLceb.lc to
t he concer ned ar ea f r om t i me eo, t ; i . meend Ont he
t er ms and condf t i on, s $at may bep. t e$cr l bed by
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t he cdr por at i on' f r oi TI - t i me to t i me whi l e aJ }owi ng
. . . " s uch s l . l . b- cf i : vi s i ~. +;
Al l cas es wher e t he ' Kar t a' of HUF has beeh
admi t t ed as one of t he par t ner s s hoUl d be
accor di ngl y deal t wi t h and an under t aki ng and
i ndemni t y bond s houl d be obt ai ned on r ecor d
bef or e m~ki ng s uch al l ot ment and/ or Ql l owi nQ
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t r ans f er i n cas e of change i n t he cons i t ut i on.
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f ( 1J. . A vJ~~
( R. M. Pr emk\ . l . mar ) ~ . .
Chi ef EXec~t i ve Of i ceF;
MlbC;~:~a-400093 .
To,
Al l
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Heads of t he Depar t ment s ,
Regi onal
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O: f f l cer s ,
Execui i veEI l gi r i eet - . s .
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mvs:2181984:
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Extract fromthe sub-p~a (i) of para 3of
Resolution No.1625passed in themeet.:i,.ngheld
on23-2-1981.
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i) Whereanindividual or proprietor takes
oneor morepartners (all of them~eingnatural persons)
"-' , il(;~ cci t, .ir,tcrcst in trie capital of the new
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r:xplJ .r,ation ; Theterm'partner::~hipfirm'
in this as wel.l, as other clauses whichf'cLlowshall
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becomprising of.twoor mOreof partners .Anyperson
claiming as I~;}{arta"of HinduUndiv?:.dedFamilT-etcli
wouldnot normally beaLl.owed'tobe inducted as
'partner' in <3 ;. partnership firmwithout adequately'
SFlfe!J 11..qT.-CUU':;j Il"gai.I'l:5-\:. ,,:ny f U. ~. ,:tL ~{A.b~~v'siePl err tlo,e
possibility of Corporation's. involving itself into
internal litigations of H. U. ' !? In t. . . hecase of Trust,
wh'2therpubl ic cr private, thepermission maY 2~ranted