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CSEET · Business Laws and Management · Elements of Law relating to Partnership and Limited Liability Partnership

Under Section 63 of the Indian Partnership Act, 1932, when a change occurs in the constitution of a registered firm, who may give notice of the change to the Registrar?

Any incoming, continuing or outgoing partner may give notice of the change to the Registrar, specifying its date. Section 63(1) does not limit this to the outgoing partner, the incoming partner or the majority profit holder, and the Registrar records the notice in the Register of Firms.

  1. AOnly the outgoing partner
  2. BOnly the incoming partner
  3. CAny incoming, continuing or outgoing partnerCorrect
  4. DOnly the partner holding the majority of profit share

Explanation

Section 63(1) allows any incoming, continuing or outgoing partner to give notice to the Registrar, specifying the date of the change. It is not restricted to one category of partner or to the majority holder, so the other options are wrong.

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