The Indian Partnership Act, 1932
Defines partnership, mutual rights and duties, registration, dissolution, and the consequences of an unregistered firm.
- Sections
- 74
- Chapters
- 8
- Tier
- Tier 1
In one line
What this Act says
Governs traditional partnerships — what makes one, what the partners owe each other, and what happens on dissolution.
Penalties
What happens if you break it
Suing on behalf of an unregistered firm
§69Suit barred — partner cannot enforce contractual rights against third parties or the firm.
Partner using firm property for personal benefit
§16Must account to the firm for the benefit (civil remedy).
Partner competing with the firm in similar business
§16(b)Must account for and pay over all profits to the firm.
Headline offences only — not exhaustive. For the full text and every section, open the source PDF or the official link below.
Key Sections & Penalties
Partnership Act at a Glance
| Section | Type | Provision | Applicability | Details / Penalty |
|---|---|---|---|---|
| §4 | definition | Definition of partnership, partner, firm and firm name | - | Administrative / Structural |
| §9 | structural | General duties of partners | - | Administrative / Structural |
| §13 | right | Mutual rights and liabilities | - | Administrative / Structural |
| §30 | structural | Minors admitted to the benefits of partnership | - | Administrative / Structural |
| §58 | procedural | Application for registration | - | Administrative / Structural |
Maximum punishments as prescribed by the Act. Actual sentencing depends on facts, prior convictions and judicial discretion.
Sources
Read the Act yourself
We always show you the local source PDF and at least one verifiable online reference, so you can check anything we say.
Source PDF
Partnership Act, 1932.pdf
Full text · opens in new tab
Reference
Wikipedia
en.wikipedia.org · opens in new tab
About this Act
Quick facts
- Year
- 1932
- Sections
- 74
- Chapters
- 8
- Tier
- Tier 1