Section 64 Indian Partnership Act 1932

Section 64 Indian Partnership Act

Section 64 of the Indian Partnership Act 1932 is about Rectification of mistakes. It is under CHAPTER VII (Registration Of Firms) of the Act.

Rectification of mistakes.

(1) The Registrar shill have power at all times to rectify any mistake in order to bring the entry in the Register of Firms relating to any firm into conformity with the documents relating to that firm filed under this Chapter.

(2) On application made by all the parties who have signed any document relating to a firm filed under this Chapter, the Registrar may rectify any mistake in such document or in the record or note thereof made in the Register of Firms.

Section 63 Indian Partnership Act 1932

Section 63 Indian Partnership Act

Section 63 of the Indian Partnership Act 1932 is about Recording of changes in and dissolution of a firm. It is under CHAPTER VII (Registration Of Firms) of the Act.

Recording of changes in and dissolution of a firm.

(1) When a change occurs in the constitution of a registered firm any incoming, continuing or outgoing partner, and when a registered firm is dissolved any person who was a partner immediately before the dissolution, or the agent of any such partner or person specially authorised in this behalf, may give notice to the Registrar of such change or dissolution, specifying the date thereof; and the Registrar shall make a record of the notice in the entry relating to the firm in the Register of Firms, and shall file the notice along with the statement relating to the firm filed under section 59.

(2) When a minor who has been admitted to the benefits of partnership in a firm attains majority and elects to become or not to become a partner, and the firm is then a registered firm, he, or his agent specially authorised in this behalf, may give notice to the Registrar that he has or has not become a partner, and the Registrar shall deal with the notice in the manner provided in sub-section (1)

Section 62 Indian Partnership Act 1932

Section 62 Indian Partnership Act

Section 62 of the Indian Partnership Act 1932 is about Noting of changes in names and addresses of partners. It is under CHAPTER VII (Registration Of Firms) of the Act.

Noting of changes in names and addresses of partners.

When any partner in a registered firm alters his name or permanent address, an intimation of the alteration may be sent by any partner or agent of the firm to the Registrar, who shall deal with it in the manner provided in section 61.

Section 61 Indian Partnership Act 1932

Section 61 Indian Partnership Act

Section 61 of the Indian Partnership Act 1932 is about Noting of closing and opening of branches. It is under CHAPTER VII (Registration Of Firms) of the Act.

Noting of closing and opening of branches.

When a registered firm discontinues business at any place or begins to carry or business at any place, such place not being its principal place of business, any partner or agent of the firm may send intimation thereof to the Registrar, who shall make a note of such intimation in the entry relating to the firm in the Register of Firms, and shall file the intimation along with the statement relating to the firm filed under section 59.

Section 60 Indian Partnership Act 1932

Section 60 Indian Partnership Act

Section 60 of the Indian Partnership Act 1932 is about Recording of alterations in firm name and principal place of business. It is under CHAPTER VII (Registration Of Firms) of the Act.

Recording of alterations in firm name and principal place of business.

(1) When an alteration is made in the firm name or in the location of the principal place of business of a registered firm, a statement may be sent to the Registrar accompanied by the prescribed fee, specifying the alteration, and signed and verified in the manner required under section 58.

(2) When the Registrar is satisfied that the provisions of sub-section (1) have been duly complied with, he shall amend the entry relating to the firm in the Register of Firms in accordance with the statement, and shall file it along with the statement relating to the firm filed under section 59.

Section 59 Indian Partnership Act 1932

Section 59 Indian Partnership Act

Section 59 of the Indian Partnership Act 1932 is about Registration. It is under CHAPTER VII (Registration Of Firms) of the Act.

Registration.

Where the Registrar is satisfied that the provisions of section 58 have been duly complied with, he shall record an entry of the statement in a register called the Register of Firms, and shall file the statement.

STATE AMENDMENTS

Karnataka

Amendment of section 59A.–In section 59A of the Indian Partnership Act, 1932 (Central Act IX of 1932), in sub-section (1), for the words “by reason of the reorganization of States, the words, figures and brackets “by reason of the addition of the Bellary District to the State of Mysore under the Andhra State Act, 1953 (Central Act XXX of 1953), or of the reorganization of States under the States Reorganisation Act, 1956 (Central Act 37 of 1956)” shall be substituted.

[Vide Karnataka Act 19 of 1961, s. 2]

Maharashtra

Amendment of section 59A–1 of IX of 1932.-In section 59A-1 of the Indian Partnership Act, 1932 (IX of 1932), in its application to the State of Maharashtra (hereinafter referred to as “the principal Act”), for the words “one hundred rupees” the words “one thousand rupees” shall be substituted.

[Vide Maharashtra Act 16 of 2018, s. 2]

Section 58 Indian Partnership Act 1932

Section 58 Indian Partnership Act

Section 58 of the Indian Partnership Act 1932 is about Application for registration. It is under CHAPTER VII (Registration Of Firms) of the Act.

Application for registration.

(1) The registration of a firm may be effected at any time by sending by post or delivering to the Registrar of the area in which any place of business of the firm is situated or proposed to be situated, a statement in the prescribed form and accompanied by the prescribed fee, stating–

(a) the firm name,

(b) the place or principal place of business of the firm,

(d) the date when each partner joined the firm,

(e) the names in full and permanent addresses of the partners, and

(f) the duration of the firm.

The statement shall be signed by all the partners, or by their agents specially authorised in this behalf.

(2) Each person signing the statement shall also verify it in the manner prescribed.

(3) A firm name shall not contain any of the following words, namely:–

“Crown”, “Emperor”, “Empress”, “Empire”, “Imperial”, “King”, “Queen”, “Royal”, or words expressing or implying the sanction, approval or patronage of ¹*** Government ²***,except ³[when the State Government] signifies ⁴[its] consent to the use of such words as part of the firm name by order in writing ⁵***

STATE AMENDMENTS

Goa, Daman and Diu.–

The Government of Goa is hereby pleased to levy a non-refundable processing fee of Rs. 1,000/- (Rupees one thousand only) for processing the documents for registration of Partnership Firm under the Indian Partnership Act, 1932 (Central Act 9 of 1932).

This Order shall come into force with effect from the 1st day of April, 2017.

(Published in the Official Gazette Series I No. 52 (Extraordinary-2) dated 31-3-2017) (w.e.f. 8-5-2017- LD(Estt.) (C)/407 dated 31-3-2017)

Uttarakhand.–

Substitution of section 58.–In the Indian Partnership Act, 1932, (hereinafter referred to as the Principal Act) section 58 shall be substituted as follows, namely:–

58. Application for registration.–(1) The registration of a firm may be effected at any time by uploading on the website following statement in the prescribed online form and accompanied with prescribed fees to the Registrar of the area in which any place of business of the firm is situated or proposed to be situated, stating.–

(a) the firm name,

(b) the place or principal place of business of the firm,

(d) the date when each partner joined the firm,

(e) the names in full and permanent addresses of the partners, and

(f) the duration of the film.

The statement shall be digitally signed by all the partners or by their agents specially authorized in this behalf.

(2) The applicant, signing the statement shall also upload to the website, verifying the statement recorded in the online format mentioned in sub-section (1), verifying it in the affidavit certified by the Notary on the non-judicial stamp paper of Rs. 10/.

(3) The desired enclosed shall also be uploaded on website, by the applicant.

(4) A firm name shall not contain the word Union, State, Land Mortgage, Land development, Cooperative, Gandhi, Reserve Bank or any of the words expressing or implying the sanction, approval or patronage of Government, except when the State Government signifies its consent to the use of such words as part of the firm name by order in writing.

(5) The prescribed fee of registration shall be submitted online after the online approval given by the Registrar.

(6) After submitting the prescribed registration fee the digitally signed registration certificate may be downloaded from the website by the applicant.

[Vide Uttarakhand Act 5 of 2019, s. 2]

Section 57 Indian Partnership Act 1932

Section 57 Indian Partnership Act

Section 56 of the Indian Partnership Act 1932 is about Appointment of Registrars. It is under CHAPTER VII (Registration Of Firms) of the Act.

Appointment of Registrars.

(1) The State Government may appoint Registrars of Firms for the purposes of this Act, and may define the areas within which they shall exercise their powers and perform their duties.

(2) Every Registrar shall be deemed to be a public servant within the meaning of section 21 of the Indian Penal Code (45 of 1860).

Section 56 Indian Partnership Act 1932

Section 56 Indian Partnership Act

Section 56 of the Indian Partnership Act 1932 is about Power to exempt from application of this Chapter. It is under CHAPTER VII (Registration Of Firms) of the Act.

Power to exempt from application of this Chapter.

The [State Government of any State] may, by notification in the Official Gazette, direct that the provisions of this Chapter shall not apply to ²[that State] or to any part thereof specified in the notification.

Section 55 Indian Partnership Act 1932

Section 55 Indian Partnership Act

Section 55 of the Indian Partnership Act 1932 is about Sale of goodwill after dissolution. It is under CHAPTER VI (Dissolution of A Firm) of the Act.

Sale of goodwill after dissolution.

(1) In settling the accounts of a firm after dissolution, the goodwill shall, subject to contract between the partners, be included in the assets, and it may be sold either separately or along with other property of the firm.

(2) Where the goodwill of a firm is sold after dissolution, a partner may carry on a business competing with that of the buyer and he may advertise such business, but, subject to agreement between him and the buyer, he may not–

(a) use the firm name,

(3) Any partner may, upon the sale of the goodwill of a firm, make an agreement with the buyer that such partner will not carry on any business similar to that of the firm within a specified period or within specified local limits, and, notwithstanding anything contained in section 27 of the Indian Contract Act, 1872 (9 of 1872), such agreement shall be valid if the restrictions imposed are reasonable.