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The_Indian_Partnership_Act_1932

Section / Rule Number Content


1 Short title extent and commencement
2 Definitions
3 Application of provisions of act IX of 1872
4 Definition of "partnership", "partners", "firm" and "firm-name"
5 Partnership not created by status
6 Mode of determinig existence of partnership
7 Partnership-at-will
8 Particular partnership
9 General duties of partners
10 Duty to indemnify for loss caused by fraud
11 Determination of rights and duties of partners by contract between the partners
12 The conduct of the business
13 Mutual right and liabilities
14 The property of the firm
15 Application of the property of the firm
16 Personal profits earned by partners
17 Rights and duties of partners after a change in the firm
18 Partner to be agent of the firm
19 Implied authority of partners as agent of the firm
20 Extension and restriction of partner's implied authority
21 Partner's authority in an emergency
22 Mode of doing act to bind firm
23 Effect of admission by a partner
24 Effect of notice to acting partner
25 Liability of a partner for acts of the firm
26 Liability of the firm for wrongful acts of a partner
27 Liability of firm for misapplication by partners
28 Holdingout
29 Rights of transferee of a partner's interest
30 Minors admitted to the benefits of partnership
31 Introduction of a partner
32 Retirement of a partner
33 Expulsion of a partner
34 Insolvency of a partner
35 Liability of estate of deceased partner
36 Rights of outgoing partner to carry on competing business
37 Right of outgoing partner in certain cases to share subsequent profits
38 Revocation of continuing guarantee by change in firm
39 Dissolution of a firm
40 Dissolution by agreement
41 Compulsory dissolution
42 Dissolution on the happening of certain contingencies
43 Dissolution by notice of partnership at will
44 Dissolution by the court
45 Liability for acts of partners done after dissolution
46 Right of partners to have business wound up after dissolution
47 Continuing authority of partners for purposes of winding up
48 Mode of settlement of accounts between partners
49 Payment of firm's debts and of separate debts
50 Personal profits earned after dissolution
51 Return of premium on premature dissolution
52 Rights where partnership contract is rescinded for fraud or misrepresentation
53 Right to restrain from use of firm-name or firm-property
54 Agreements in restraint of trade
55 Sale of goodwill after dissolution
56 Power to exempt from application of this chapter
57 Appointment of registrar
58 Application for registration
59 Registration
59A Late registration on payment of penalty
59A Deletion and addition of certain entries relating to certain firms, by reason of reorganisation of states
59 B Deletion of entries relating to certain firms by reason of formation of gujrat state
60 Recording of alterations in firm-name, nature of business and principal place of business
61 Noting of closing and opening of branches
62 Noting of changes in names and assresses of partners
63 Recording of changes in and dissolution of a firm
64 Rectification of mistakes
65 Amendment of register by order of court
66 Inspection of register and filed documents
67 Grant of copies
68 Rules of evidence
69 Effect of non-registration
69A Penalty for contravention of section 60, 61, 62 or 63
70 Penalty for furnishing false particulars
70A Maximum fees and power to amend schedule I
71 Power to make rules
72 Mode of giving public notice
73 Repeals
74 Savings
Schedule- I
Schedule-II

Corporate Secretarial & Compliance Services

The firm specializes in providing comprehensive secretarial services ensuring compliance with corporate legislation. Services include the preparation and filing of statutory forms, maintenance of statutory registers, compliance with the Companies Act, drafting of notices for meetings, and preparation of annual reports.

Mergers & Acquisitions (M&A) & Corporate Restructuring

Arthur & Co. LLP has extensive experience in handling mergers, demergers, acquisitions, and corporate restructuring. The firm provides end-to-end services, including due diligence, structuring of transactions, and assisting with regulatory approvals and filings with authorities like NCLT and SEBI

Insolvency & Bankruptcy Matters

With a strong expertise in the Insolvency and Bankruptcy Code (IBC), 2016, the firm provides services related to Corporate Insolvency Resolution Process (CIRP), drafting Information Memorandums, Resolution Plans, and conducting Committee of Creditors (COC) meetings. It also assists clients in loan restructuring and managing financial crises.

Secretarial Audits & Corporate Governance

The firm conducts detailed secretarial audits for public and private companies, ensuring statutory compliance and good corporate governance practices. This includes preparing and filing annual returns, auditing corporate governance reports, and assisting clients in maintaining the transparency and accountability of their corporate structures.

Legal Advisory & Dispute Resolution

Arthur & Co. LLP offers expert legal advisory services on a wide range of corporate matters, including the drafting of commercial contracts, shareholder agreements, joint ventures, mergers, and acquisitions. The firm also represents clients in dispute resolution and regulatory proceedings before various forums, including NCLT and SEBI.

Taxation & Financial Services

The firm provides expert services in income tax planning, GST advisory and compliance, and financial documentation. It also assists businesses in preparing financial reports and ensuring compliance with tax laws.

Intellectual Property (IP) Services

The firm offers comprehensive trademark registration, protection, and enforcement services, helping clients safeguard their intellectual property rights.

Regulatory Compliances (SEBI, FEMA, RBI, Stock Exchanges)

The firm provides guidance on regulatory compliance under various laws, including the Securities and Exchange Board of India (SEBI), Foreign Exchange Management Act (FEMA), and Reserve Bank of India (RBI) regulations. Services also extend to stock exchange compliances, including SME listing and revocation of suspension of trading of securities.

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