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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52 Rights where partnership contract is rescinded for fraud or misrepresentation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

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Man Mohan Aggarwal & Co. is a chartered accountancy firm rendering comprehensive professional services which include audit, management consultancy, tax consultancy, accounting services, manpower management, secretarial services etc.