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Judgment Search Results Home > Cases Phrase: indian partnership act 1932 section 12 the conduct of the business Page 1 of about 1,274 results (0.132 seconds)

Sep 29 1997 (HC)

Commissioner of Income-tax Vs. Jagdish Chand Walia and Co.

Court : Punjab and Haryana

Reported in : [1998]234ITR595(P& H)

..... parties to the agreement, with a view to sharing its profits, the provisions of section 4 of the indian partnership act, 1932, will apply.7. section 12 of the said act specifies the provisions in respect of the conduct of the business of the partnership. it reads as under :'12. the conduct of the business.--subject to contract between the partners,-- (a) every partner has a right to take ..... part in the conduct of the business ; (b) every partner is bound to attend diligently to his duties in the conduct of the business ..... new partner had been added only to bring finance and did not actively participate in the conduct of the business.26. it has been seen that all the partners of a partnership firm have the authority under section 12 of the indian partnership act to take part in the conduct of the business of the firm. every partner has also a duty to attend to the ..... business of the firm diligently. in this context, it cannot be said that the actual physical handling of .....

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Sep 29 1997 (HC)

Commissioner of Income-tax Vs. Jagdish Chand Walia and Co.

Court : Punjab and Haryana

Reported in : (1998)144CTR(P& H)127

..... parties to the agreement, with a view to sharing its profits, the provisions of s. 4 of the indian partnership act, 1932, will apply.sec. 12 of the said act specifies the provisions in respect of the conduct of the business of the partnership. it reads as under :'sec. 12 :the conduct of the business -subject to contract between the partners, -(a) every partner has a right to take part in the ..... the fact that he is a partner. carrying on of a business is essential for the existence of a partnership. in other words, the actual existence of a business carried on by the partners is essential to constitute partnership.sec. 4 of the indian partnership act, 1932, requires that it is not necessary that the business should be in fact carried on by all the partners and ..... that all of them should participate in running the same. so long as the business is being carried on by any ..... 12 of the indian partnership act to take part in the conduct of the business of the firm. every partner has also a duty to attend to the business of the firm diligently. in this context, it cannot be said that the actual physical handling of liquor by a non-licensee partner was necessary so as to invalidate his entry in the firm. sec. 9 of the indian partnership act .....

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Aug 22 2014 (HC)

Minochar @ Minoo Aspandyar Irani Vs. Deenyar Sheriar Jehani and Others

Court : Mumbai

..... tulzapurkar, learned senior counsel that in view of section 9, 12, 14 to 16 and 19 of indian partnership act, 1932, every partner is entitled to have access to accounts, participate and carry out the business of the firm, respondent nos. 1 to 5 cannot prevent the petitioner or respondent no. 6 from participating in the conduct of the business is concerned, there is no dispute about the ..... on section 9, 12, 14, 15, 16 and 19 of the indian partnership act 1932 and submits that all the partners are bound to carry on the business of the firm for the common advantage of all the partners and have to be just and faithful to all the partners. the petitioner and the respondent no 6 are entitled to participate in the conduct of the business and ..... proposition that under the above referred provisions, the partners are entitled to carry on business ..... and respondent no.6, the petitioner was not able to take any steps to seek appointment of an arbitrator. it is submitted by the learned senior counsel that under section 12(d) of the indian partnership act 1932, every partner has a right to access, to inspect and copy any of the books of the firm. 44. it is submitted by the learned senior counsel .....

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Dec 02 1993 (HC)

Malini Rao Vs. Hotel Dwaraka and ors.

Court : Andhra Pradesh

Reported in : 1994(1)ALT36; [1997]90CompCas179(AP)

..... nos. 2 to 12, who are carrying on the business of the dissolved first respondent, are liable to account for the said business so conducted by them. as the amounts due to her were not paid ..... petitioner contends that respondents nos. 2 to 12 have been using the property of the first respondent and continuing the hotel business using the firm name after the dissolution of the first respondent firm on october 2, 1985, without winding up its affairs and, therefore, under section 50 read with clause (a) of section 16 of the indian partnership act, 1932, they are liable to render accounts for ..... . 2 to 12 are guilty of preventing the petitioner from participating in the business of respondent no. 1 and in not permitting her to inspect the books of account. she, therefore, submits that it would be just and equitable to wind up respondent no. 1 under section 583 of the act. the petitioner also contends that under section 50 read with section 16 of the indian partnership act, 1932, respondents .....

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Mar 23 1993 (HC)

Y. Venkanna Chowdry (Died) and Another Vs. G. Lakshmidevamma and Other ...

Court : Chennai

Reported in : AIR1994Mad140

..... are spelt out in the indian partnership act, 1932. section 4 of the act defines 'partnerhip' as the relationship between persons who have agreed to share the profits of a business carried on by all or any of them acting for all and persons who have entered into partnership with one another as partners individually a partner and collectively as a firm. section 12 of the act say,'subject to contract ..... bound to attend diligently to his duties in the conduct of the business; (c) any difference arising ..... between partners :-- (a) every partner has a right to take part in the conduct of the business; (b) every partner is ..... cent per annum; (e) the firm shall indemnify a partner in respect of payments made and liabilities incurred by him:-- (i) in the ordinary and proper conduct of the business; and (ii) in doing such act, in an emergency, for the purpose of protecting the firm from loss as would be done by a person of ordinary prudence, in his own case, .....

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Mar 03 1960 (HC)

Mathura Datt Bhatt Vs. Prem Ballabh Khulba

Court : Allahabad

Reported in : AIR1961All19

..... .7. in this connection, we will first examine the relevant provisions of the indian partnership act (act ix) of 1932. the nature of 'partnership' there is defined by section 4 as being 'the relationship between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'. that relationship arises from contract and not from status (see ..... section 5). subject to contract between the partners, every partner has a right to take part in the conduct of the business (section 12 ..... (a)) and the property of the firm shall be held and used by the partners exclusively for the purposes of the business (section 15) and the ..... personal profits earned by partners from any transaction of the partnership, or from the use of the property or 'business connections' have to be accounted for to .....

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Apr 27 2001 (HC)

Smt. Vunna Visali Vs. State of A.P., Repted., by Public Prosecutor and ...

Court : Andhra Pradesh

Reported in : 2001(1)ALD(Cri)894; 2001(1)ALT(Cri)511

..... of section 10 of the e.c. act, which made every director of a company or a partner of a partnership firm, who is responsible to the company or the partnership firm for the conduct of the business of the company/firm, at the relevant time, also liable for the offences under that act, the supreme court held thus:'7. ... ... it is true that under the indian partnership act, 1932, a ..... , therefore, clear that she is only a sleeping partner. 10. the question, therefore, arises for consideration is: 11. whether a sleeping partner of a firm is criminally liable for the acts of the partnership firm?12. this question was considered by the supreme court in sham sunder v. state of haryana, : 1989crilj2201 . that was a case where the sleeping partners of the ..... - strongly disputed the aforesaid contentions. 9. the 2nd respondent-complainant, a.1 and the petitioner herein constituted a partnership firm - siri marketings - to carryon the business in purchase and sales of lubricating oils, building materials etc. they have also executed a partnership deed on 12-8-1994. according to which, each of the partners have to contribute a sum of rs. 94,000/- and ..... , (2000) 4 scc 168).31. even in the decision relied upon by the learned counsel for the 2nd respondent in pirthi chand (7 supra) the supreme court held (in para 12 of the report) thus:'the court has to prima facie consider from the averments in the charge-sheet and the statements of witnesses on the record in support thereof whether .....

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Jun 20 2008 (HC)

Green Sea Marine and ors. Vs. V.A. Anty and anr.

Court : Kerala

Reported in : 2008(2)KLJ780

..... the relation between the persons who have agreed to share the profits of a business carried on by all or any of them acting for all - see section 4 of the indian partnership act, 1932, hereinafter; the 'ip act'. section 2(a) of the ip act defines an 'act of a firm', to mean any act or omission by all the partners, or by any partner or agent of the firm which ..... to take part in the conduct of the business. the mutual rights and duties of the ..... partner or his legal representative. section 10 thereof or his legal representative. section 10 thereof provides that every partner shall indemnify the firm for any loss caused to it by his fraud in the conduct of the business of the firm. there can be no partnership without a minimum number of two partners. clause (b) of section 12 of the ip act provides that every partner is bound ..... to attend diligently to his duties in the conduct of the business, while clause (a) thereof provides that every partner has a right .....

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Aug 10 1955 (HC)

Baburao Nanaji Vs. Raghunath Nanaji

Court : Mumbai

Reported in : AIR1956Bom155

..... the defendant has invited my attention to. sub-section (f) of section 13 of the indian partnership act, 1932 and sub-section (f) says that 'a partner shall indemnify the firm for any loss caused to it by his wilful neglect in the conduct of the business of the firm'.dealing with this section, the learned district judge has observed in the ..... course of his judgment as follows:'the section itself ..... by halsbury in volume 22 at page 221. moreover, the learned district judge has overlooked the fact that clauses (e) and (f) of section 13 of the indian partnership act do not come into operation at all in this case.the plaintiff's case is not founded upon the basis that this was a case ..... in that behalf. the defendant has said that for each trip of the plaintiff's bus the plaintiff would have made a net profit of rs 12/-. at this rate for the 32 trips which the plaintiff's buses would have made in the first 16 days, the plaintiff would have earned a ..... on the ground that he did not actually authorise the particular manner in which the act was done, or even on the ground that the servant was acting on his own behalf and not on that of his master.'12. it is thus not open to the defendant to say that he had not .....

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Jul 14 2000 (HC)

Satish Aggarwal and Another Vs. Subhash Chand Aggarwal and Others

Court : Delhi

Reported in : 2000VAD(Delhi)889; 2000(3)ARBLR142(Delhi)

..... . (vi) the petitioners are merely unsecured creditors under section 37 of the indian partnership act, 1932. (vii) it is necessary to preserve the goodwill which is the most precious asset of the firm. (viii) it is further necessary to pay royalty to the authors in time. 12. the respondent no. 1 has also given various instances of the conduct the petitioners which disentitles them to seek the ..... further stated that the respondent no. 1 is in continuing partnership businss having a running business and the principles applicable to a dissolved partnership will not ipso facto apply. 15. the learned counsel for the petitioners has relied upon the following provisions of the indian partnership act, 1932 in support of his plea for appointment of a receiver: (1) section 42(c) which postulates the dissolution of a ..... partnership by the death of a partner; (2) section 46 which prescribes the right of partners to have business wound up after dissolution; (3) section 48 which provides for the mode of settlement of accounts .....

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