Court : Mumbai
Reported in : AIR1971Bom237; (1971)73BOMLR42; ILR1971Bom457; 1970MhLJ419
..... provides for transfer of goodwill after dissolution and the consequent agreements in restraint of trade.9. it will be noticed from the above arrangement of chapter vi of the indian partnership act that matters pertaining not only to the fact of dissolution and fixing the date thereof but also matters arising out of the fact of dissolution which pertain to the winding ..... separate and distinct matters or they are accessory to the principal object of the instrument. taking into consideration the fact that the legislature itself in the indian partnership act has treated the winding up of partnership as a part of its dissolution and the principles laid down which are set out hereinabove, we have no hesitation in coming to the conclusion that the ..... various ways therein provided, whereas sections 46 to 55 related to winding up and not to dissolution. we, however, find that the entire chapter vi of the indian partnership act tom section 39 to section 55 has been included in the chapter heading 'dissolution of a firm'. the legislature obviously intended to make no distinction between dissolution as such ..... the leading object or are separate and distinct, must in india depend upon the provisions of the indian partnership act, 1932, and the bombay stamp act, 1958.8. chapter vi of the indian partnership act, 1932; deals with 'dissolution of a firm'. section 39 provides that the dissolution of partnership between all the partners of a firm is called the 'dissolution of the firm'. 'dissolution of .....Tag this Judgment!
Court : Mumbai
Reported in : 2001(2)BomCR657; (2001)2BOMLR145; (2001)1CompLJ415(Bom)
..... .5. there is no doubt about the fact that in the case of a partnership registered under the indian partnership act, 1932, the remedy for a dissolution of partnership is also provided in chapter vi of the act. the indian partnership act, 1932 provides for a dissolution of a partnership firm in section 39 and enunciates various modes of dissolution amongst them, in section 40 a ..... present purpose, it is clear that the provisions for winding upof the affairs of a firm which chapter vi of the indian partnership act containsbesides provisions for the dissolution of partnership are left untouched by section590 of the companies act, 1956. the cases cited in support of the respectivecontentions of the parties are not really on the point under consideration ..... company being wound up.'therefore the remedy to seek a dissolution of a registered partnership under the provisions of the indian partnership act, 1932 is not ousted by the provisions of part x of the companies act. 1956. equally, the existence of the remedy under the indian partnership act, 1932 to seek dissolution does not bar the remedy to apply for winding up ..... up and the respondent which is duly registered under the indian partnership act, 1932 is not an 'unregistered company' within the meaning of the expression used in the companies act. 1956.3. it is common ground that the first respondent is a partnership which was registered under the provisions of the indian partnership act, 1932. the question as to the maintainability of the .....Tag this Judgment!
Court : Mumbai
Reported in : 2003(3)ALLMR915; 2003(3)ARBLR75(Bom); 2003(5)BomCR807; 2003(3)MhLj373
..... running business of a hotel.4. the first issue, therefore, with which we are concerned, is whether an application under section 9 of the act of 1996 is maintainable considering section 69 of the indian partnership act, 1996. the partnership agreement contains a clause for arbitration. the petitioners herein have not moved this court or judicial forum for referring the disputes to arbitration. the petitioners ..... the year 1990 was registered on 28th may, 1990. this has been so pointed out, considering section 69 of the indian partnership act as amended in the state of maharashtra. it is contended that this court would have no jurisdiction to hear and entertain the present petition. if that be so, reliefs as ..... have come before this court to protect the assets of the partnership pending decision by the arbitral tribunal consequent upon dissolution of the partnership. the arbitral clause was invoked .....Tag this Judgment!
Court : Andhra Pradesh
Reported in : 75CompCas121(AP)
..... first defendant and not in the name of the firm, the parties are relegated to the status of co-owners from that of partners and, therefore, the provisions of the indian partnership act relating to dissolution of the firm and rendition of accounts cannot be resorted to. 33. the first defendant, in his written statement, clearly admitted the allegations in the plaint that ..... and not in the name of the firm, the parties are relegated to the status of co-owners as distinct from that of partners and, therefore, the provisions of the indian partnership act relating to the dissolution of the firm and rendition of accounts cannot be resorted to. therefore, the plaintiff and defendants are co-owners or co-sharers in respect of the ..... entitled to physical partition of the cinema-hall and its machinery and the site under the provisions of the partnership act 5. to what relief 7. additional issues : 1. whether the suit is not maintainable as it is hit by section 69 of the indian partnership act 2. whether the suit partnership is illegal and opposed to public policy and hit by section 23 of the ..... indian contract act 8. the learned trial judge, on consideration of the entire material placed before him, held that the suit partnership is illegal and opposed to section 23 of the indian contract act and that the suit is not .....Tag this Judgment!
Court : Andhra Pradesh
Reported in : 108ITR465(AP)
..... to agree with their view that the provisions of sub-section (2) of section 187 do not change the concept of reconstitution of a firm as understood in the indian partnership act nor do they obliterate the distinction between reconstitution and dissolution and that once a firm is dissolved either by agreement or by operation of law, the question of reconstitution ..... by the new firm. the business has been run uninterruptedly. even if it amounts to dissolution of the earlier firm according to the provisions of section 42 of the indian partnership act, there is no doubt that such dissolution and succession has to be treated as a reconstitution of the firm according to the provisions of section 187(2) of the ..... of section 188 but not section 187 that would apply to the case on hand as, on the death of a partner of a partnership firm, the partnership automatically gets dissolved under section 42(c) of the indian partnership act, 1932, that a new firm for the remaining broken period in each of the two accounting years has come into existence as there ..... clause (23) of section 2 of the act (income-tax act) defines 'firm', 'partner' and 'partnership' as having 'the meanings respectively assigned to them in the indian partnership act, 1932, but the expression 'partner' shall also include any person who, being a minor, has been admitted to the benefits of partnership'. section 4 of the partnership act reads :'definition of partnership--'partnership' is the relation between persons who have agreed .....Tag this Judgment!
Court : Andhra Pradesh
Reported in : 2006(4)ALD596; 2006(3)ARBLR575(AP)
..... award.(6) a party aggrieved by such an arbitral award may make an application for setting aside such an arbitral award in accordance with section 34.section 44 of the indian partnership act, reads as under:section 44: dissolution by the court:-at the suit of a partner, the court may dissolve a firm on any of the following grounds, namely:(a) that ..... be allowed to be determined by the arbitrators in the guise of clause 22. further, the learned counsel also drawn the attention of this court to section 44 of the indian partnership act and submitted that in spite of there being a negative recital as to claiming dissolution, since complicated questions of law and facts are involved in this case including dissolution of ..... shall be final, conclusive and binding upon the parties, their heirs, legal representatives and successors.23. in all the matters not specifically provided for in this deed, the provisions of indian partnership act, 1932 for the time being in force shall apply.12. it is also necessary to notice sections 8, 11 and 16 of the arbitration and conciliation ..... act, 1996 as well as section 44 of the indian partnership act, 1932. sections 8, 11 and 16 of the arbitration act reads as under:section 8: power to refer parties to arbitration where there is an arbitration agreement:-(1) a judicial authority .....Tag this Judgment!
Court : Allahabad
Reported in : 73ITR423(All)
..... of conveyance as contemplated in section 22 of the indian partnership act, quoted above, becomes imperative. in point of fact, conversion of firm's property into personal property of the partners involves a declaration that the interest of the firm in the ..... or immovable. the contention that a firm cannot own property, even for the purpose of its business, is hardly tenable. such ownership is clearly postulated in section 14 of the indian partnership act 1932, which runs thus:'14. subject to contract between the partners, the property of the firm includes all property and rights and interests in property originally brought into the stock ..... personal property only by means of an instrument in writing. it may be mentioned here that there is no provision in the indian partnership act corresponding to section 22 of the english partnership act, 1890. that being so the legal fiction which permits partnership realty being treated as personalty as between partners infer se is not available here and the need for execution of an instrument ..... . a partner is not entitled to get his share in specie in the movable and immovable properties of the firm. section 48 of the indian partnership act provides that, on dissolution of the firm, its assets must first be applied for payment of the debts and liabilities of the firm and if any residue is left after .....Tag this Judgment!
Court : Allahabad
Reported in : 103ITR517(All)
..... firm ' and how it is different from a firm which is newly constituted to determine the scope of sections 187 and 188 of the act.6. under the indian partnership act a firm can be said to be reconstituted when a new partner is added or ah existing partner retires or is expelled without dissolving the ..... firm. chapter v of the indian partnership act deals with the incoming and outgoing of partners. section 31 of that chapter provides :' subject to contract between the partners and to the provisions of ..... still be a case of reconstitution. but this provision does not change the concept of reconstitution of a firm as understood in the indian partnership act nor does it obliterate the distinction between reconstitution and dissolution. when it talks of a partner ceasing to be a partner it refers to section ..... 32 of the indian partnership act and when it talks of admission of a new partner it refers to section 31 of the indian partnership act. it may be restated here that by incoming and outgoing of a partner the firm is not ..... position that emerges is that section 187 applies only where a firm is reconstituted in accordance with sections 31 and 32 of the indian partnership act, namely, when a new partner is taken or an existing partner retires with the consent of all the partners or without their consent if the .....Tag this Judgment!
Court : Allahabad
Reported in : 273ITR485(All)
..... minor.16. the appellate commissioner while allowing the appeal lost sight of the fact that sub-sections (1) and (3) of section 30 of the indian partnership act operates in different fields.17. in view of the above discussions, we are of the opinion that the order of the tribunal granting registration to the ..... been specifically mentioned that the minor shall also be liable to share the loss to the extent of his share, according to section 30 of the indian partnership act. the last portion of clause (5) of the deed that the minor shall also be liable for the loss to the extent of his share ..... that as in the present case the minor has also been made liable to share the losses to the extent of his share, according to section 30 of the indian partnership act, the firm is not entitled for grant of registration.(1) cit v. oriental t. maritime : 227itr244(ap) ;(2) addl. cit v. uttam kumar ..... has nothing to do with sub-section (1) of section 30 of the indian partnership act, which provides that a minor can be admitted to the benefits of partnership. section 2(a) of the partnership act defines an 'act of a firm' means any act or omission by all the partners, or by any partner or agent of the ..... to share the profit of the firm but shall not be liable for the losses except as defined under the indian partnership act. the court on the interpretation of clause (2) of the partnership deed of that case came to the conclusion that loss has to be fully distributed amongst the three adult partners. .....Tag this Judgment!
Court : Punjab and Haryana
Reported in : 77ITR76(P& H)
..... that previous year, (ii) before the end of the previous year in any other case; (b) where the firm is registered under the indian partnership act, 1932 (ix of 1932), or where the deed of partnership is registered under the indian registration act, 1908 (xvi of 1908), before the end of the previous year of the firm, and (c) where the application is for renewal of ..... , 1953, be made before the 28th february, 1953, and for any year of assessment subsequent thereto, be made-(a) where the firm is not registered under the indian partnership act. 1932 (ix of 1932), or where the deed of partnership is not registered under the indian registration act, 1908 (xvi of 1908), and the application for registration is being made for the first time under the ..... of the said act.14. in so far as question no. 2 is concerned, it is already answered by a decision of ..... , partners 5 and 6, who were admitted only to the benefits of the partnership according to clause 4, that supports the conclusion of the learned tribunal that the minors were in fact made substantial partners contrary to section 30 of the indian partnership act, 1930, and thus the registration of the partnership was rightly refused as being void because it was hit by section 30 .....Tag this Judgment!