ACT FOR ACTS
Firm registration is not compulsory. But it is in the interest of the partners themselves to have their firm registered under the Partnership Act. The Act contemplates the registration of the firm and not the registration of the partnership deed. Registration is also necessary when a new partnership comes into being. For example, on the reconstitution of the firm.The firm […]
Continue reading »(1) Note that under Section 55 of the LLP Act, 2008 convert firm into an LLP with the provisions of the Second Schedule of the said Act. Convert firm into a Limited Liability Partnership (2) The second schedule of the said act convert firm into an LLP. If the partners of the LLP into which the firm is to […]
Continue reading »Under the partnership Act, firm registration is optional, and not essential. This is clear from the plan of section 58 and 59. A suit by one partner to exact other partners to join in registration of the partnership is maintainable. The contract of partnership does not cancel a partnership of non registration it affects the right of a partnership […]
Continue reading »The difference in the constitution has happened because of a partner coming in or another going out or change in the share of the partners. Under the section 185 and section 187 firm continues to be the same as before in the eye of law, but there is a change in the constitution of the firm or in a share […]
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