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Indian Partnership Act 1932

Indian Partnership Act

ACT NO. 9 OF 1932

[8th April, 1932.]

An Act to define and amend the law relating to partnership.

WHEREAS it is expedient to define and amend the law relating to partnership; it is hereby enacted as follows:–


CHAPTER I – Preliminary

Section 1 Indian Partnership ActShort title, extent and commencement

Section 2 Indian Partnership ActDefinitions

Section 3 Indian Partnership Act Application of provisions of Act 9 of 1872

CHAPTER II – The Nature Of Partnership

Section 4 Indian Partnership ActDefinition of “Partnership”, “Partner”, “Firm” arid “firm name”

Section 5 Indian Partnership ActPartnership not created by status

Section 6 Indian Partnership ActMode of determining existence of partnership

Section 7 Indian Partnership ActPartnership at will

Section 8 Indian Partnership ActParticular partnership

CHAPTER III – Relations Of Partners To One Another

Section 9 Indian Partnership ActGeneral duties of partners .

Section 10 Indian Partnership ActDuty to indemnify for loss caused by fraud

Section 11 Indian Partnership ActDetermination of rights and duties of partners by contract between the partners.

Section 12 Indian Partnership ActThe conduct of the business

Section 13 Indian Partnership ActMutual rights and liabilities

Section 14 Indian Partnership ActThe property of the firm

See also  Section 141 Indian Patents Act 1970

Section 15 Indian Partnership ActApplication of the property of the firm

Section 16 Indian Partnership ActPersonal profits named by partners

Section 17 Indian Partnership Act Rights and duties of partners

CHAPTER IV – Relation Of Partners To Third Parties

Section 18 Indian Partnership ActPartners to be agent of the firms

Section 19 Indian Partnership ActImplied authority of partner as agent of the firm

Section 20 Indian Partnership ActExtension and restriction of partner’s implied authority

Section 21 Indian Partnership ActPartner’s authority in an emergency

Section 22 Indian Partnership ActMode of doing act to bind firm

Section 23 Indian Partnership ActEffect of admissions by a partner

Section 24 Indian Partnership Act Effect of notice to acting partner

Section 25 Indian Partnership ActLiability of a partner for acts of the firm

Section 26 Indian Partnership ActLiability of the firm for wrongful acts of a partner.

Section 27 Indian Partnership ActLiability of firm for misapplication by partners

Section 28 Indian Partnership ActHolding out

Section 29 Indian Partnership ActRights of transferee of a partner’s interest

Section 30 Indian Partnership ActMinors admitted to the benefits of partnership.

CHAPTER V – Incoming And Outgoing Partners

Section 31 Indian Partnership ActIntroduction of a partner

Section 32 Indian Partnership ActRetirement of a partner

Section 33 Indian Partnership ActExpulsion of a partner

Section 34 Indian Partnership ActInsolvency a partner

Section 35 Indian Partnership ActLiability of estate of deceased partner

See also  Section 84 Indian Patents Act 1970

Section 36 Indian Partnership ActRights of outgoing partner to carry on competing busine

Section 37 Indian Partnership ActRight of outgoing partner in certain cases to share subsequent profits

Section 38 Indian Partnership ActRevocation of continuing guarantee by change in firm

CHAPTER VI – Dissolution of A Firm

Section 39 Indian Partnership ActDissolution of firm

Section 40 Indian Partnership ActDissolution by agreement

Section 41 Indian Partnership ActCompulsory dissolution

Section 42 Indian Partnership ActDissolution on the happening of certain contingencies

Section 43 Indian Partnership ActDissolution by notice of partnership at wil

Section 44 Indian Partnership ActDissolution by the Court

Section 45 Indian Partnership ActLiability for acts of partners done after dissolution

Section 46 Indian Partnership ActRight of partners to have business wound up after 10 dissolution

Section 47 Indian Partnership ActContinuing authority of partners for purposes of winding up

Section 48 Indian Partnership ActMode of settlement of accounts between partners

Section 49 Indian Partnership ActPayment of firm debts and of separate debts.

Section 50 Indian Partnership ActPersonal profits earned after dissolution

Section 51 Indian Partnership ActReturn of premium on premature dissolution

Section 52 Indian Partnership ActRights where partnership contract is rescinded for fraud or misrepresentation

Section 53 Indian Partnership ActRights to restrain from use of firm name or firm property

Section 54 Indian Partnership Act Agreements in restraint of trade

See also  Section 92A Indian Patents Act 1970

Section 55 Indian Partnership ActSale of good will after dissolution

CHAPTER VII – Registration Of Firms

Section 56 Indian Partnership Act Power to exempt from application of this Chapter

Section 57 Indian Partnership ActAppointment of Registrar

Section 58 Indian Partnership ActApplication of registration

Section 59 Indian Partnership ActRegistration

Section 60 Indian Partnership ActRecording of alterations in firm name and principal place of business.

Section 61 Indian Partnership ActNoting of closing and’opening of branches

Section 62 Indian Partnership ActNoting of changes in names and addresses of partners

Section 63 Indian Partnership ActRecording of changes in and dissolution of a firm

Section 64 Indian Partnership ActRectification of mistakes

Section 65 Indian Partnership Act Amendment of Register by order of court

Section 66 Indian Partnership ActInspection of Register and filed documents

Section 67 Indian Partnership ActGrant of copies

Section 68 Indian Partnership ActRules of evidence

Section 69 Indian Partnership ActEffect of non- registration

Section 70 Indian Partnership ActPenalty for furnishing of false particulars

Section 71 Indian Partnership ActPower to make rules

CHAPTER VIII – Supplemental

Section 72 Indian Partnership ActMode of giving public notice

Section 73 Indian Partnership Act – [Repeals]

Section 74 Indian Partnership ActSaving


See also: Indian Constitution 1949

Indian Penal Code 1860 (S. 1-267)

Indian Penal Code 1860 (S. 268-511)

Indian Stamp Act 1899

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