10 December 2010
ABC is an unregistered partnership firm functioning since 1995. Now the partners have decided to register the same.
Would the deed mention about the firm functioning since 1994 or would it be like forming a new firm altogether? What date would be the mentioned in the partnership deed and please provide a sample of such deed.
10 December 2010
An unregistered firm has no legal existence in the eyes of law. Hence, even if you draft the Partnership Deed as "This deed is made this ____ day of ____, 1994" the firm have legal existence only from the date of registration by the Registrar of Firms. Moreover, the Registrar of Firms may raise a question as to why the firm has not been registered so far???
In my opinion,draft the deed of Partnership as on today as if the new firm is being formed.
Date of registration of firm will give the Partnership Firm legal existence in the eyes of law, this will be like the new firm is born on the date of registration.
This is my opinion and views of eminent experts are welcome.....
10 December 2010
As per partnership act 1932 registration of the firm is not mandatory ,so it will be not a problem that you will face at the time of registration of the partnership . As far as deed are concerned you can either registered with old partnership deed or form a new deed . It will be better that if you will form a new deed ,coz all contained in that deed may not suit in today economic condition coz a lot has been changed since than .
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