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Consult and get Expert Advice on Partnership Laws matters from the best Partnership Lawyers in India. Let us know your requirement we will help you to find the best Lawyer suited for your matter within your budget.
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Consult Top Partnership Expert Lawyer in India

Ramalingaiah Mulakatte

Senior Lawyer
Exp
Mumbai City , Maharashtra

Specialization

  • Arbitration and Mediation
  • Consumer Protection
  • Civil
  • Cheque Bounce
  • Partnership
Advocate/Senior legal adviser/Legal Counsel handling all types of legal matters both litigation and non-litigation and corporate legal adviser View Full Profile
Total Answers Given : 91
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Tanima Das Ghosh

CIVIL LAWYER
Exp
North 24 Parganas , West Bengal

Specialization

  • Civil
  • Criminal
  • Divorce
  • Maternity
  • Partnership
I have successful track records in providing justice to my clients in North 24 Parganas Courts. I do Civil matters ( Marriage Registry ,Property Registration, Divorce, Legal Notice, Deeds, etc) in various Courts. I am associated with M&M and Hero Honda, Kolkata for their Execution cases View Full Profile
Total Answers Given : 12
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Rajeev Srivastava

Senior Advocate
Exp
Ghaziabad , Uttar Pradesh

Specialization

  • Civil
  • Banking
  • Partnership
Practising since 1984. I am having good experience in handling the cases related with Crime, Matrimonial, accident claims, workmen compensation claims . Real estate disputes, Insurance cases, and consumer cases View Full Profile
Total Answers Given : 10
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Ajit Kumar Sinha

Advocate and Consultant
Exp
Nawada , Bihar

Specialization

  • Consumer Protection
  • Banking
  • Documentation
  • Landlord And Tenant
  • Partnership
Advocate and legal consultant and Panel Advocate of Banks and NIC and DLSA View Full Profile
Total Answers Given : 10
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RAKTIM PUJARI

ADVOCATE
Exp
Sundargarh , Orissa

Specialization

  • Contracts and Agreements
  • RTI
  • Tax-Income Tax
  • Landlord And Tenant
  • Partnership
Self managed and dedicated professionals to provide legal services in a distinct and practical way. View Full Profile
Total Answers Given : 3
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Neel Shah

Legal Counsel
Exp
Ahmedabad , Gujarat

Specialization

  • Criminal
  • Civil
  • Banking
  • Commercial
  • Partnership
Experienced in litigation in civil, crimes, revenue, corporate and real-estate matters. View Full Profile
Total Answers Given : 2
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PARDEEP KUMAR DHINGRA

PARTNER WITH LAW FIRM
Exp
South Delhi , Delhi

Specialization

  • Arbitration and Mediation
  • Bankruptcy and Debt
  • Contracts and Agreements
  • Commercial
  • Partnership
16 years of Experience in fields of International & Domestic Arbitrations, Corporate & Commercial Litigation, Acquisition, Merger/Demerger, Regular Litigation in Property, Real Estate, Trade Mark, Copy Right, Recovery, Civil disputes, Contracts, Writ, LPA, SLP, FDI, ODI, NCLT (IBC, Insolvency)etc. View Full Profile
Total Answers Given : 2
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Advocate Mohit Dhingra

Advocate
Exp
Lucknow , Uttar Pradesh

Specialization

  • Intellectual Property, Copyright, Patent, Trademar
  • Cheque Bounce
  • Consumer Protection
  • Landlord and Tenant
  • Partnership
I deal in various legal fields such as Consumer Matters, Labour and Employment Matters, EPF & ESI Registration, Trademark Registration, Labour Registration, FSSAI License, Cheque Bouncing Matters, Legal Notices, ISO Registration, and Civil Disputes View Full Profile
Total Answers Given : 1
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Sheetal Bhutada

Advocate
Exp
Pune , Maharashtra

Specialization

  • Criminal
  • Cheque Bounce
  • Family
  • Domestic Violence
  • Partnership
Passionate Lawyer. Professional to provide Legal guidance and support. View Full Profile
Total Answers Given : 1
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gunjan shah

Advocate
Exp
North 24 Parganas , West Bengal

Specialization

  • Divorce
  • Arbitration And Mediation
  • Adoption
  • Bankruptcy And Debt
  • Partnership
Practicing as an advocate/private attorney at the Hon’ble High Court, Calcutta, District Courts, Tribunals such as Land Administrative Tribunals, Central and State Administrative Tribunals and Forums including The Consumer Forums and dealing in Arbitration matters as representing counsel. View Full Profile
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  • What is Partnership?
  • Why Partnership?
  • Which Laws Govern Partnership?
  • How to End Partnership?
  • What are the Liabilities of Partners in Partnership?

Prior to 1932, Chapter XI (Sections 239 to 266) of the Indian Contract Act, 1872 contained the law relating to partnership in India. As these provisions were not exhaustive, it was considered expedient and necessary to separate the law relating to partnership and to embody it in a separate enactment. Hence, the Indian Partnership Act, 1932 was brought to the fore.

What Is Partnership?


It is a type of Business where two or more persons pool money, skill and other resources and share the profit of such business as per agreed terms in Partnership Agreement. The liabilities and risks associated in such business is shared as per the Agreement or if there is no agreement then it is shared proportionately.

Advantages of Partnership


  • Easy to establish.
  • Easy to Raise Funds.
  • Wide pool of Knowledge, Skill and Contacts.
  • Improved Management.
  • Sharing of Profit and Loss.
  • Equal Rights in Management.

Laws Governing Partnership


  • A partnership firm is not a distinct legal entity apart from the partners constituting it, i.e. a partnership firm is not a ‘person in law’ but is merely an association of individuals.
  • As per Section 4 of the Act, Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all.
  • An agreement of partnership need not be express but can be inferred from the course of conduct of the parties to the agreement
  • As per Section 11 of the Act, the mutual rights and duties of the partners of the firm may be determined by contract between the partners, and such contract may be expressed or may be implied by the course of dealing.
  • As per Section 29 of the Act, a transfer by a partner of his rights in the firm, either absolute or by mortgage, or by the creation by him of a charge on such interest, does not entitle the transferee, during the continuance of the firm, to interfere in the conduct of the business, or to require accounts, or to inspect the books of the firm, but entitles the transferee only to receive the share of profits of the transferring partner, and the transferee shall accept the account of profits agreed to by the partners. As per Section 31 of the Act, no person shall be introduced as a partner into a firm without the consent of all the existing partners.
  • As per Section 33 of the Act, a partner may not be expelled from a firm by any majority of the partner, save in the exercise in good faith of powers conferred by contract between the partners. (Rules of Section 32 can be applicable to an expelled partner)

Dissolution of Partnership


  • Dissolution by Mutual Agreement
  • Dissolution by Court.

Dissolution by Mutual Agreement


  • By Agreement (Section 40 Of Indian Partnership Act,1932).
  • By Compulsory Dissolution (Section 41 Of Indian Partnership Act,1932).
  • Dissolution by Happening of a Contingent Event (Section 42 Of Indian Partnership Act,1932).
  • Dissolution by Notice (Section 43 Of Indian Partnership Act,1932).

Dissolution by Court


  • Insanity of Partner.
  • Incapacity of Partner.
  • Misconduct of Partner.
  • Constant Breach of Agreement of Partner.
  • Transfer of Interest.
  • Continuous Losses.

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Client Testimonials

Top Responding Lawyers
on Partnership Laws

Deepak Bade
Experience: 9 Year(s)
Lawyer and legal associate
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Kishan Dutt Kalaskar Retired Judge
Experience: 33 Year(s)
Retired Judge
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ROBERT D ROZARIO
Experience: 15 Year(s)
Advocate High Court
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Ambrose Leo
Experience: 9 Year(s)
Adv.Ambrose Leo Associates & Legal Consultants
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Vedant Lakhotia
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Legal Counsel
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Prabhakara S K Shetty
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Rajender Prasad
Experience: 5 Year(s)
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NILANJAN CHATTERJEE
Experience: 5 Year(s)
ADVOCATE
Howrah
Vimlesh Mishra
Experience: 26 Year(s)
Advocate High Court
Lucknow
Ashish Dongre
Experience: 12 Year(s)
Advocate
Mumbai City
Rajeev RJ
Experience: 17 Year(s)
Advocate
Thiruvananthapuram
Yusuf Mithi
Experience: 4 Year(s)
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Mohd Imran
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Advocate
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SUMSON .T.S
Experience: 14 Year(s)
Advocate
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Suneel
Experience: 15 Year(s)
Advocate
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Abhimanyu Shandilya
Experience: 14 Year(s)
Advocate and Legal Counsel
Kolkata
Namitabh Kothari
Experience: 19 Year(s)
Advocate
Mumbai suburban
ARPIT BATRA
Experience: 11 Year(s)
Attorney
South Delhi
Rameshwar Dadhe
Experience: 2 Year(s)
As a advocate
Aurangabad
Shanti Ranjan Behera
Experience: 22 Year(s)
Advocate
Bhubaneswar
GANESH SHARMA
Experience: 3 Year(s)
Criminal Lawyer
Faridabad
Nirmal Chopra
Experience: 20 Year(s)
Dr
New Delhi
Vishwabandhu
Experience: 38 Year(s)
SENIOR LAWYER
Jabalpur
Johnson Thangiah
Experience: 18 Year(s)
Advocate / Trial Advocate
Tirunelveli
Manjula Shanmugasundaram
Experience: 18 Year(s)
Advocate
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