abhijit 25 December 2015

Unregistred partnership deed

There were two partnerse.g. Mr. A And MR. B in a firm which was registered in 1980.

One partner Mr. A retired in Dec 2014 and a new partner Mrs. C was inducted as a new partner.

This retirement cum admission deed was registered with the Reistrar Of Firms.

Then after MR. B also retired And Mr. D entered as a new partner , but for some reasons this retirement cum admission deed was not registered with the Registrar of Firms.

In this situation what is the legal standing of all the parties to this firm , i mean old and new and exsiting partners.

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3 Replies

kavksatyanarayana (subregistrar/supdt.(retired)) 25 December 2015

when new partner is entering into the firm, then only the one of the old partner may quits the partnership, if the firm started with two partners. because if there are two partners without joiing new partner, the old partner cannot go out, if he goes out, the firm automatically dissolved. And as the new partner enters, the old partner take his share with profits if any. so he is no way concenred after that. like that the next partner also. now there are only two partners A and D, now one is going, the firm is said to be dissolved. finally the accounts will be settled as per norms of the deed.

Anand Bali Adv. (Advocate Solicitor & Consultant) 26 December 2015

Dear friend,

In your case all the old partners of the firm are having no part in the partnership Firm as the maxim says that in every partnership firm the Firm dissolve it self when any partner leaves it or joins it and hence there comes a new partnership after every retirement (Exit) and Joining of a new partner. If the exist of B and the joining of the new partner D is not at all registered their respective out going and incomming is not at all relevent and legally enforced by the law. It is a automatic dissolution of partnership in such a case. and not as the case of a company where the company's existance remains as it is but not in a case of a partnership firm.

However, it depends on the partners if amicably they settle themselve the exit of Mr B and In coming of Mr D and write a new partnership deed among them and get it registered.

At present Mr C and Mr B are sitll partners in the firm and all after that events are irrelivent to the Firm Mr A & D do not have any right in the Partnership firm.