Right. I thought that applied only to LLP structure.
Also another question,
Why is partnership between family and even friends okay but not with general public? In the last paragraph, SEBI banned the entity and its promoters for carrying out AIF type activities without an AIF license.
If a partnership exists only between family & friends, does the firm not classify as conducting AIF type activities?
There are no regulations if a bunch of folks (family and friends) get together to start a business. But as soon as you begin scouting for capital from people, all regulations apply.
Thank you so much for answering sir.
@nithin - how companies like graviton are able to do this?
this is what their website says “Kindly note that Graviton research Capital LLP also does Proprietary (Own A/c) trading in addition of Client’s trading”…
how are they able to manage clients money with just brokerage license. they earned 605cr on 330cr revenue? hard to believe that all this money is coming from brokerage.
I would not know. Will try finding out.
Hi Siva, it is right there on the home page , just scroll down.
