Partnership dissolution public notice
Querist :
Anonymous
(Querist) 09 December 2011
This query is : Resolved
Respected Experts,
With reference to Partnership Act, I would like to know, that a public notice is compulsory or not when a a partnership is not registered.
What could be the liability of outgoing partner in future when a third party claim comes when out going partner no more with partnership with other partners of the firm.
Kind request to help me out.
Regards to all
prabhakar singh
(Expert) 09 December 2011
You are laboring under some confusion.
The registration of partnership firm with registrar of firms is optional under Partnership Act.
But non registration disables a partnership firm and its partners from suing third parties or in-terse between partners.There is no other mode of public notice except this registration which is a public document open to all.
Querist :
Anonymous
(Querist) 09 December 2011
Sir,
Thank you so much for the early reply. Sir, if you could once again understand my concern with reference to the issue in hand, that, whether a public notice is really required, particularly when the firm is not registered. As you know that the partnership Act says even third party can sue unregistered firm and all its partners for the conduct of or act of partners who are no more partners with the partnership firm without public notice, because the fact, it is shown to general public a view or display that a person is acted as if partner. hence your view is desired. Sir, if I am confusing kindly put your concerns. Sir all with your due respect.
Sailesh Kumar Shah
(Expert) 12 December 2011
There is no requirement for public notice but there is no harm for notice for taking precautions.
