Sec 30 of indian partnership act,1932
KAMLESH KUKREJA
(Querist) 19 December 2012
This query is : Resolved
there are 3 partners in a firm, they all together admitted a minor z for the benefits of the firm, on 28.03.2012 he have attained majority and on 04.04.2012 take a loan of Rs:-6 lakh from bank. and on 24.06.2012 the firm is dissolved. Z says that he is not liable for loan amount as he was admitted when he was minor and after attaining the majority he have not given any public notice that he have elected to become a partner and still as on 24.06.2012 period of 6 months is not expired
is Z liable for the debt incurred on 04.04.2012?
Raj Kumar Makkad
(Expert) 19 December 2012
Z cannot take benefit of his minority for the loan taken by the firm after attaining his majority. Even if no declaration was made, Z might have declared soon after attaining his majority that he has no concern with the firm.
KAMLESH KUKREJA
(Querist) 19 December 2012
CAN HE BE MADE LIABLE FOR THE DEBTS INCURRED BY FIRM BEFORE HIS ADMISSION AS PARTNER (HE WAS MINOR)
