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The Indian Partnership Act, 1932

Central

An Act to define and amend the Law Relating to Partnership.

Act number
9 of 1932
Ministry
Ministry of Corporate Affairs
Enacted
8 Apr 1932

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

74 sections

  1. Section 1Short title, extent and commencement.
  2. Section 2Definitions.
  3. Section 3Application of provisions of Act 9 of 1872.
  4. Section 4Definition of “partnership”, “partner”, “firm” and “firm name”.
  5. Section 5Partnership not created by status.
  6. Section 6Mode of determining existence of partnership.
  7. Section 7Partnership at will.
  8. Section 8Particular partnership.
  9. Section 9General duties of partners.
  10. Section 10Duty to indemnify for loss caused by fraud.
  11. Section 11Determination of rights and duties of partners by contract between the partners.
  12. Section 12The conduct of the business.
  13. Section 13Mutual rights and liabilities.
  14. Section 14The property of the firm.
  15. Section 15Application of the property of the firm.
  16. Section 16Personal profits earned by partners.
  17. Section 17Rights and duties of partners— after a change in the firm, after the expiry of the term of the firm, and where additional undertakings are carried out
  18. Section 18Partner to be agent of the firm.
  19. Section 19Implied authority of partner as agent of the firm.
  20. Section 20Extension and restriction of partner’s implied authority.
  21. Section 21Partner’s authority in an emergency.
  22. Section 22Mode of doing act to bind firm.
  23. Section 23Effect of admissions by a partner.,
  24. Section 24Effect of notice to acting partner.
  25. Section 25Liability of a partner for acts of the firm.
  26. Section 26Liability of the firm for wrongful acts of a partner.
  27. Section 27Liability of firm for misapplication by partners.
  28. Section 28Holding out.
  29. Section 29Rights of transferee of a partner ’s interest.
  30. Section 30Minors admitted to the benefits of partnership.
  31. Section 31Introduction of a partner.
  32. Section 32Retirement of a partner.
  33. Section 33Expulsion of a partner.
  34. Section 34Insolvency of a partner.
  35. Section 35Liability of estate of deceased partner.
  36. Section 36Rights of outgoing partner to carry on competing business.
  37. Section 37Right of outgoing partner in certain cases to share subsequent profits.
  38. Section 38Revocation of continuing guarantee by change in firm.
  39. Section 39Dissolution of a firm.
  40. Section 40Dissolution by agreement.
  41. Section 41Compulsory dissolution.
  42. Section 42Dissolution on the happening of certain contingencies.
  43. Section 43Dissolution by notice of partnership at will.
  44. Section 44Dissolution by the Court.
  45. Section 45Liability for acts of partners done after dissolution.
  46. Section 46Right of partners to have business wound up after dissolution.
  47. Section 47Continuing authority of partners for purposes of winding up.
  48. Section 48Mode of settlement of accounts between partners.
  49. Section 49Payment of firm debts and of separate debts.
  50. Section 50Personal profits earned after dissolution.
  51. Section 51Return of premium on premature dissolution.
  52. Section 52Rights where partnership contract is rescinded for fraud or misrepresentation.
  53. Section 53Right to restrain from use of firm name or firm property.
  54. Section 54Agreements in restraint of trade.
  55. Section 55Sale of goodwill after dissolution.
  56. Section 56Power to exempt from application of this Chapter.
  57. Section 57Appointment of Registrars.
  58. Section 58Application for registration.
  59. Section 59Registration.
  60. Section 60Recording of alterations in firm name and principal place of business.
  61. Section 61Noting of closing and opening of branches.
  62. Section 62Noting of changes in names and addresses of partners.
  63. Section 63Recording of changes in and dissolution of a firm.
  64. Section 64Rectification of mistakes.
  65. Section 65Amendment of Register by order of Court.
  66. Section 66Inspection of Register and filed documents.
  67. Section 67Grant of copies.
  68. Section 68Rules of evidence.
  69. Section 69Effect of non-registration.
  70. Section 70Penalty for furnishing false particulars.
  71. Section 71Power to make rules.
  72. Section 72Mode of giving public notice.
  73. Section 73[Repealed.].
  74. Section 74Savings.