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There is one judgement of SC kamal pushpa enterprises v DR construction co 2000 . It overruled Jagdish Chandra Gupta Case 1964. The expression 'other proceedings ' do not include arbitration proceedings and even unregistered firms can go to arbitration. Even it is followed by SC in it's recent Umesh Goel Case 2016 . Pls keep updating yourself ..
For all Judicial Services Exams visit here bit.ly/JudiciarybyStudyIQ Judiciary (Pre + Mains) bit.ly/JudiciaryPreMains StudyIQ Judicial Services Course covers -Videos of all the Major and Minor laws, Local Laws - Weekly Live Doubt cum Mentorship Sessions -Current Affairs Videos by Dr. Gaurav Garg, -Judgement Writing Classes, Essay Writing and Answer Writing Classes and many more Sessions -Test Series for Prelims -Subject wise PYQ Paper Sets for all State Judicial Services. Judicial Service Examinations of 15 States Covered- Uttar Pradesh, Bihar, Haryana, Punjab, Delhi, Gujarat, Rajasthan, Himachal Pradesh, Jammu and Kashmir, Uttarakhand, West Bengal, Orissa, Jharkhand , Chhattisgarh, Madhya Pradesh For all Judicial Services Exams visit here bit.ly/JudiciarybyStudyIQ Download the App to Subscribe to the Course bit.ly/StudyIQAPP For any doubt, Call 95-8004-8004 Click here for Whatsapp Chat wa.me/919554443351
If Two partners gave property to firm and if firm is dissolved and how would the partners get the hold of immovable property from the partnership firm.??
Great Session Mam..Mam plz it's my humble request bring whole Commercial Law on RUclips and kaha kaha se questions ate h Prelims & Mains me sb bata dijiyega plz it's my humble request plz mam..God bless you Mam
THE INDIAN PARTNERSHIPACT, 1932 Registration of Firm Registration : Under Section 58 of the Indian Partnership Act, 1932, a firm may be registered at any time (not merely at the time of its formation but subsequently also) by filing an application with the Registrar of Firms of the area in which any place of business of the firm is situated or proposed to be situated. It is optional for partners to get the firm registered and there are no penalties for non registration. Section 69 of the Act which deals with the effects of non-registration denies certain rights to an unregistered firm. Under the Act : (a) A partner of an unregistered firm cannot file a suit in any court against the firm or other partners for the enforcement of any right arising from a contract or right conferred by the Partnership Act unless the firm is registered and the person suing is or has been shown in the Register of Firms as a partner in the firm. (b) No suits to enforce a right arising from a contract shall be instituted in any court by or on behalf of a firm against any third party unless the firm is registered and the persons suing are or have been shown in the Register of Firms as partners in the firm. (c) An unregistered firm or any of its partners cannot claim a set of (i.e. mutual adjustment of debts owed by the disputants parties to one another) or other proceedings in a dispute with a third party. Hence, every firm finds it advisable to get itself registered sooner or later. Is registration of a partnership firm mandatory? What are the consequences of non-registration? Registration of a partnership firm is not mandatory under law. The Partnership Act,1932 provides that if the partners so desire may register the firm with the Registrar of Firms of the state in which the firm’s main office is situated. A partnership firm may be registered at the time of formation or at any time thereafter. Procedure for partnership Registration In order to get a partnership firm registered, an application in a prescribed form must be filled with the Registrar of Firms. The application should contain the following information: 1. The name of the firm 2. The principal place of business of the firm 3. Names of other places where the firm’s business is carried on. Ads by ADVERTISEMENT Ads by 4. Names in full and permanent addresses of the partners. 5. The date on which each partner joined the firm 6. Duration of partnership, if any. The application should be signed and verified by each partner, then it is to be submitted to the Registrar of Firms of the area in which the main office of the firm’s business is situated or proposed to be situated. The registration fee is also deposited along with the application. After the submission of the application, the registrar will examine the application. If he is satisfied that everything is in order and all the legal formalities have been observed, he will make an entry in the register of firms. He will also issue a certificate of registration. Any change in the information submitted at the time of registration should be communicated to the Registrar. Consequences of Non- Registration of partnership The consequences of a partnership firm which is not registered are as follows: 1. It cannot enforce its claims against the third party in a court of law. 2. It cannot file a legal suit against any of its partners 3. Partners of an unregistered firm cannot file any suit to enforce a right against the firm. 4. A partner of an unregistered firm cannot file suit against other partners. 5. It cannot claim adjustment for any sum exceeding Rs. 100. Suppose an unregistered firm owes Rs. 1200 to X and X owes Rs.1000 to the firm. The firm cannot enforce an adjustment of Rs.1000 in a court of law. Rights not affected by Non- registration of a Partnership firm Non- registration of a firm, however, does not affect the following rights: 1. The right of a partner to sue for the dissolution of the firm or for the accounts of a dissolved firm or to enforce any right or power to realize the property of a dissolved firm. 2. The power of an official assignee or receiver to realize the property of an insolvent partner. 3. The rights of the firm, or its partners, having no place of business in India. 4. Any suit or set off in which the claim does not exceed rupees hundred. 5. The right of a third party to sue the unregistered firm or its partners. 6. The right to sue a third party for infringement of a patent right. The Indian Partnership Act,1932 has effectively ensured the registration of a partnership firm without making it compulsory.
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🏆Ace Your Judiciary Journey with our Unique Eklavya Batch
Batch Link - www.studyiq.com/course-detail/eklavya-judiciary-live-foundation-batch
● Clear Prelims of any State Judiciary and get 50% fee refund
● Clear any State Judiciary and get 150% fee refund
● Success Assurance with 1 yr extra validity
Enroll now in MONSOON Dhamaka sale and get the batch in just 27,999 by using your Favorite Educators Code
Hurry up! Admissions closing on 31st July
For any queries please call us on - 080-49801290
Commerce students ko...law itne asani se samjhane keliye thanks..
There is one judgement of SC kamal pushpa enterprises v DR construction co 2000 . It overruled Jagdish Chandra Gupta Case 1964. The expression 'other proceedings ' do not include arbitration proceedings and even unregistered firms can go to arbitration.
Even it is followed by SC in it's recent Umesh Goel Case 2016 .
Pls keep updating yourself ..
For all Judicial Services Exams visit here
bit.ly/JudiciarybyStudyIQ
Judiciary (Pre + Mains)
bit.ly/JudiciaryPreMains
StudyIQ Judicial Services Course covers
-Videos of all the Major and Minor laws, Local Laws
- Weekly Live Doubt cum Mentorship Sessions
-Current Affairs Videos by Dr. Gaurav Garg,
-Judgement Writing Classes, Essay Writing and Answer Writing Classes and many more Sessions
-Test Series for Prelims
-Subject wise PYQ Paper Sets for all State Judicial Services.
Judicial Service Examinations of 15 States Covered- Uttar Pradesh, Bihar, Haryana, Punjab, Delhi, Gujarat, Rajasthan, Himachal Pradesh, Jammu and Kashmir, Uttarakhand, West Bengal, Orissa, Jharkhand , Chhattisgarh, Madhya Pradesh
For all Judicial Services Exams visit here
bit.ly/JudiciarybyStudyIQ
Download the App to Subscribe to the Course
bit.ly/StudyIQAPP
For any doubt, Call 95-8004-8004
Click here for Whatsapp Chat
wa.me/919554443351
If Two partners gave property to firm and if firm is dissolved and how would the partners get the hold of immovable property from the partnership firm.??
I think the point regarding dissolution and right to file a suit is Section 69 (3 A) and not 69( 2A).
Great Session Mam..Mam plz it's my humble request bring whole Commercial Law on RUclips and kaha kaha se questions ate h Prelims & Mains me sb bata dijiyega plz it's my humble request plz mam..God bless you Mam
Bohot informative video, par ek baat madam, 2000k tho 20 lacs hota hai 😅 Woh thoda bohot confuse hoga shaayad
Thanks for clearly explaination and nice short video
any judgement for section 69(3) of partnership act??
is it 2000k or Rs.2000? the two quantities are very different, please kindly clarify
Really good explanation
thanku ma’am very useful video
Provide proper playlist for these
Why this section came late? 🤔🤔
Boys koi section nhi h kya mam
Nice video mam ji
Not soft voice
I an studying this in 11 isc commerce
❤❤❤
🔥🔥🔥
💐💐🙏🙏🙏🙏
Your language of explanation is not professional and acting bahut karte hu aap.
😂
Sahi kaha 😂
THE INDIAN PARTNERSHIPACT, 1932
Registration of Firm
Registration : Under Section 58 of the Indian Partnership Act, 1932, a firm may be
registered at any time (not merely at the time of its formation but subsequently also) by
filing an application with the Registrar of Firms of the area in which any place of
business of the firm is situated or proposed to be situated.
It is optional for partners to get the firm registered and there are no penalties for non
registration. Section 69 of the Act which deals with the effects of non-registration
denies certain rights to an unregistered firm. Under the Act : (a) A partner of an
unregistered firm cannot file a suit in any court against the firm or other partners for
the enforcement of any right arising from a contract or right conferred by the
Partnership Act unless the firm is registered and the person suing is or has been shown
in the Register of Firms as a partner in the firm. (b) No suits to enforce a right arising
from a contract shall be instituted in any court by or on behalf of a firm against any
third party unless the firm is registered and the persons suing are or have been shown
in the Register of Firms as partners in the firm. (c) An unregistered firm or any of its
partners cannot claim a set of (i.e. mutual adjustment of debts owed by the disputants
parties to one another) or other proceedings in a dispute with a third party. Hence,
every firm finds it advisable to get itself registered sooner or later.
Is registration of a partnership firm mandatory?
What are the consequences of non-registration?
Registration of a partnership firm is not mandatory under law. The Partnership Act,1932 provides that if
the partners so desire may register the firm with the Registrar of Firms of the state in which the firm’s
main office is situated. A partnership firm may be registered at the time of formation or at any time
thereafter.
Procedure for partnership Registration
In order to get a partnership firm registered, an application in a prescribed form must be filled with the
Registrar of Firms. The application should contain the following information:
1. The name of the firm
2. The principal place of business of the firm
3. Names of other places where the firm’s business is carried on. Ads by ADVERTISEMENT Ads by
4. Names in full and permanent addresses of the partners.
5. The date on which each partner joined the firm
6. Duration of partnership, if any.
The application should be signed and verified by each partner, then it is to be submitted to the Registrar
of Firms of the area in which the main office of the firm’s business is situated or proposed to be
situated.
The registration fee is also deposited along with the application.
After the submission of the application, the registrar will examine the application. If he is satisfied that
everything is in order and all the legal formalities have been observed, he will make an entry in the
register of firms. He will also issue a certificate of registration.
Any change in the information submitted at the time of registration should be communicated to the
Registrar.
Consequences of Non- Registration of partnership
The consequences of a partnership firm which is not registered are as follows:
1. It cannot enforce its claims against the third party in a court of law.
2. It cannot file a legal suit against any of its partners
3. Partners of an unregistered firm cannot file any suit to enforce a right against the firm.
4. A partner of an unregistered firm cannot file suit against other partners.
5. It cannot claim adjustment for any sum exceeding Rs. 100. Suppose an unregistered firm owes Rs.
1200 to X and X owes Rs.1000 to the firm. The firm cannot enforce an adjustment of Rs.1000 in a court
of law.
Rights not affected by Non- registration of a Partnership firm
Non- registration of a firm, however, does not affect the following rights:
1. The right of a partner to sue for the dissolution of the firm or for the accounts of a dissolved firm or
to enforce any right or power to realize the property of a dissolved firm.
2. The power of an official assignee or receiver to realize the property of an insolvent partner.
3. The rights of the firm, or its partners, having no place of business in India.
4. Any suit or set off in which the claim does not exceed rupees hundred.
5. The right of a third party to sue the unregistered firm or its partners.
6. The right to sue a third party for infringement of a patent right. The Indian Partnership Act,1932 has
effectively ensured the registration of a partnership firm without making it compulsory.
Very helpful notes 👍
😃❤👌🙏