Penalty for Amended Partnership Deed Registration

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  1. Artartes

    Artartes New Member

    When a firm is registered with registrar of firms 40 year ago, subsequently partnership deed was amendment few times but none of them are registered with registrar of firms.
    Is it mandatory to register all the amendments?
    Are there any charges for late registration?
    If yes, what are the charges and can they be condoned by the authorities?
    Is it mandatory to regularise this?
    What is the best way to regularise this?
    Thanks.
     
  2. ZED

    ZED Well-Known Member

    If the amendment relates to any of the amendments mentioned in S.63 of the Indian Partnership Act , then it would be mandatory to register it.

    S63. (1) When a change occurs in the constitution of a registered firm, any incoming, continuing or outgoing partner, and when a registered firm is dissolved, any person who was a partner immediately before the dissolution, or the agent of any such partner or person specially authorised in this behalf, may give notice to the Registrar of such change or dissolution, specifying the date thereof; and the Registrar shall make a record of the notice in the entry relating to the firm in the Register of Firms, and shall file the notice along with the statement relating to the firm filed under section 59.

    S.59. When the Registrar is satisfied that the provisions of section 58 have been duly complied with, he shall record an entry of statement in a register called the Register of Firms, and shall file the statement.


    S.58. (1) The registration of a firm may be effected at any time by sending by post or delivering to the Registrar of the area in which any place of business of the firm is situated or proposed to be situated, a statement in the prescribed form and accompanied by the prescribed fee, stating—

    (a) the firm name,

    (b) the place or principal place of business of the firm,

    (c) the names of any other places where the firm carries on business,

    (d) the date when each partner joined the firm,

    (e) the names in full and permanent addresses of the partners, and

    (f) the duration of the firm.

    The statement shall be signed by all the partners, or by their agents specially authorised in this behalf.
     
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