Transferring Partnership Shares in India: What Partners Need to Know

shares, as being " property which forms part of the assets of the said firm", receiving in exchange " the sum of Rs. 81,563 which represents the deceased's interest in the said firm ". ... to be included in the accounts of the said partnership and to be distributed amongst the partners for the time being of the said firm according to ....

2023 0 Supreme(J&K) 556

The writ petition was initially filed by Shri Gulzar Ahmad Dar claiming himself to be partner of M/s Dar Sons. Lateron, an application came to be made by Zafar Ahmad Dar claiming to be partner of the aforesaid firm. ... It has been also contended by the original writ petitioner that in pursuance of said power of attorney the petitioner has executed a supplementary partnership#H....

2023 0 Supreme(P&H) 1695

The introduction of new partner by the existing one followed by transfer of his/her rights were governed by Clause 21 & 33 (a) (vii) of the said agreement which read as under: “Clause 21: No person may be introduced at a new partner without the consent ... (iii) Respondent No.3/decree-holder happened to be limited liability partnership firm; having separate entity being juristic #HL_STA....

2025 Supreme(Online)(Ker) 57495

Section 69 disentitles a partner or a person on behalf of a partner to sue as a partner against the firm of a person allegedly to be a partner unless the firm is registered with the registrar of firms. ... the person suing is or has been shown in the Register of Firms as a partner in the firm. ... ....

2025 6 Supreme 385

Section 141 applies, when negligence or lack of bona fides on the part of any individual partner of the firm has been proved. ... That in an agreement involving a partnership firm, all partners in their individual capacity ought to additionally be part of such agreement as parties and execute it in their individual capacity. This is because a partnership#HL_E....

2023 0 Supreme(Cal) 1305

The said clause reads as follows: “Distributorship run by any individual person shall not be allowed for inclusion of any partner(s) in the case of induction of a new partner or substitution or exclusion of an existing partner, in an existing partnership licence, the same may ... Clause 9 of the partnership deed permits that legal heirs of a #HL_START....

2023 0 Supreme(Mad) 2968

The Division Bench held : - “…The obligations of a surviving partner in a dissolved firm, to the representatives of a deceased partner, are not more onerous than those of a partner to his other partners in a running partnership. ... His assets continued to remain with the surviving partner. Apart from that, the unfair advantage that O.P. Muthiah attempted to gain was claiming#H....

2023 0 Supreme(Mad) 2983

According to him, Section 69(1) will apply only when the suit seeks to enforce a right arising from a contract or conferred by the Partnership Act or on behalf of a person suing of a partner of a firm against the firm itself, or any person alleged to be or have been a partner of the firm. ... There is a ocean of difference between a third party to a #H....

2025 0 Supreme(Ker) 1734

The mere fact that the particular person has chosen to include himself as a partner of a firm will not result in incorporation of all his individual properties as the assets of the partnership. ... Any right which a partner has over any property, other than the partnership property, would remain as his individual asset. ... From the above decisions als....

2023 0 Supreme(UK) 373

The period of limitation prescribed for claiming accounts and shares of the profits of a dissolved partnership is three years, and the time from which the period begins to run, is the date of dissolution of the firm, as is evident from Entry-5 of the Schedule to the Limitation Act, 1963. ... The applicant himself acknowledged receipt of the said notice of dissolution by replying to it, and therefore, cann....

2019 0 Supreme(Jhk) 1019

Admittedly, the writ petitioner M/s Mandeepa Enterprises submitted the bid documents in the capacity of Proprietary business, and its sole proprietor is Mr. Madan Satya Das, whose net worth was qualifying the requirement of the e-tender, though net worth of M/s Mandeepa Enterprises was not qualifying for the same. Admittedly, this comes to Rs. 1.60 crores, which was the minimum required net worth of a bidder. In case of individuals, the capacity of the individual for the applicable financial y....

2019 0 Supreme(P&H) 621

The plaintiffs consequently also prayed for a decree for possession. 2) Whether a partner after having brought in his individual immovable property in the fold of partnership firm, can claim individual right in the immovable property? 3. The plaintiffs-respondents filed a suit for declaration claiming that they are owners of land measuring 11 kanals and 18 marlas and entry in the jamabandi recording that Sohan Singh as a vendee, is wrong and the agreement dated 20.03.1979 is ....

2018 0 Supreme(Del) 3077

The claimant is a Registered partnership firm and I am one of the partners. Statement of Sh. S.S. Lamba, partner/claimant from M/s Universal Financers The respondents 1, 2 and 3 entered into agreement on 15.5.2001 which is duly signed by the respondents 1, 2 and 3 as hirer and guarantors besides the signature of witness.

2017 0 Supreme(Ker) 1433

It is in the light of these factual aspects, that this Court had held that the individual Managing Partner, who is made to represent the partnership firm, cannot be made to suffer the sentence, which is imposed on the accused partnership firm, etc. The question arose was that when the firm alone is made an accused, whether the individual, who is the managing partner of that firm, who is only representing that partnership firm, could be sentenced to imprisonment till rising of the court and als....

2017 0 Supreme(Ker) 1405

The individual Managing Partner or other partners of the firm were not separately arrayed as co-accused in that complaint. While arraying the partnership firm as the sole accused, the individual who was the managing partner of the firm was described in the cause-title as representing the sole accused partnership firm. The question arose was that when the firm alone is made an accused, whether the individual, who is the managing partner of that firm, who is only representing t....