the person can expeld from the firm if
a)atmost good faith
b)majority of partners
c)as per expressed terms of firm
d)all of the above
i opt for 'a' but the ans provided in mock test by ICAI is 'd' which is crct?
1 Replies
CA Kedar Sakhardande
(Proprietor)
(942 Points)
Replied 31 August 2012
Hello
d is correct
Section 33 of Indian Partnership Act runs as under:
33. Expulsion of a partner.
(1) A partner may not be expelled from a firm by any majority of the partners, save in the exercise in good faith of powers conferred by contract between the partners.
(2) The provisions of sub- sections (2), (3) and (4) of section 32 shall apply to an expelled partner as if he were a retired partner.
a) is correct as partner can be removed only in good faith
b) is correct as section 33 says so
c) is correct " powers conferred by contract between the partners is nothing but expressed terms of firm
so all the options are applicable and answer d is correct answer
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