Dear Sir,
Recently whilst doing financial review of a foundation I came across the following:
Organisations legal documents such as 12 AA Registration, Society registration document, PAN, and all other documents were in the name of XYZ foundation. Organisation is filing IT and FC return in the name of XYZ foundation
However in the FC renewal registration document the following is mentioned :
The chief Functionary
ABC Hospital funded and managed by XYZ foundation . FC bank account is opened in the name of ABC Hospital and the account number mentioned in the FC bank account is same to what is mentioned in the FC renewal registration document.. Organisation is filing FC returns in the name of : ABC Hospital funded and managed by XYZ foundation
Would like to know
1) Can we go ahead and do partnership with the organisation
2) if answer to the above question is yes- then funds to be released in the name of ABC hospital as bank account is opened in that name whereas entity is registered in the name of XYZ foundation
Please suggest way forward
Thanks
Ratish