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CSEET · Fundamentals of Accounting · Partnership and LLP Accounts

Which statement about notice of dissolution of a registered firm to the Registrar of Firms is correct under the Indian Partnership Act, 1932?

Any person who was a partner immediately before the dissolution, or his specially authorised agent, may give notice to the Registrar specifying the date. The Registrar records it in the Register of Firms, as provided in Section 63 of the Indian Partnership Act, 1932.

  1. AAny person who was a partner immediately before dissolution may give notice to the Registrar specifying the date of dissolutionCorrect
  2. BOnly the senior-most partner may give the notice, and only after the accounts are settled
  3. CThe Registrar must dissolve the firm by his own order before any notice is given
  4. DNotice may be given only by an incoming partner of the firm

Explanation

Section 63(1) allows any person who was a partner immediately before dissolution, or his specially authorised agent, to give notice specifying the date. The Registrar records it in the Register of Firms. The other options add conditions not found in the section.

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