Bare Acts

The Indian Partnership Act, 1932

1932 · Ministry of Law and Justice · In force · synced 13 Aug 2026

I — PRELIMINARY

1.Short title, extent and commencement 2.Definitions 3.Application of provisions of Act 9 of 1872

II — THE NATURE OF PARTNERSHIP

4.Definition of “partnership”, “partner”, “firm” and “firm name”5.Partnership not created by status 6.Mode of determining existence of partnership 7.Partnership at will 8.Particular partnership

III — RELATIONS OF PARTNERS TO ONE ANOTHER

9.General duties of partners 10.Duty to indemnify for loss caused by fraud 11.Determination of rights and duties of partners by contract between the partners. Agreements in restraint of trade 12.The conduct of the business 13.Mutual rights, and liabilities 14.The property of the firm 15.Application of the property of the firm 16.Personal profits earned by partners 17.Rights and duties of partners—after a change in the firm, after the expiry of the term of the firm, and—where additional undertakings are carried out

IV — RELATIONS OF PARTNERS TO THIRD PARTIES

18.Partner to be agent of the firm 19.Implied authority of partner as agent of the firm 20.Extension and restriction of partner's implied authority 21.Partner’s authority in an emergency 22.Mode of doing act to bind firm 23.Effect of admissions by a partner 24.Effect of notice to acting partner 25.Liability of a partner for acts of the firm 26.Liability of the firm for wrongful acts of a partner 27.Liability of firm for misapplication by partners 28.Holding out 29.Rights of transferee of a partner’s interest 30.Minors admitted to the benefits of partnership

V — INCOMING AND OUTGOING PARTNERS

31.Introduction of a partner 32.Retirement of a partner 33.Expulsion of a partner 34.Insolvency of a partner 35.Liability of estate of deceased partner 36.Rights of outgoing partner to carry on competing business. Agreements in restraint of trade 37.Right of outgoing partner in certain cases to share subsequent profits 38.Revocation of continuing guarantee by change in firm

VI — DISSOLUTION OF A FIRM

39.Dissolution of a firm 40.Dissolution by agreement 41.Compulsory dissolution 42.Dissolution on the happening of certain contingencies 43.Dissolution by notice of partnership at will 44.Dissolution by the Court 45.Liability for acts of partners done after dissolution 46.Right of partners to have business wound up after dissolution 47.Continuing authority of partners for purposes of winding up 48.Mode of settlement of accounts between partners 49.Payment of firm debts and of separate debts 50.Personal profits earned after dissolution 51.Return of premium on premature dissolution 52.Rights where partnership contract is rescinded for fraud or misrepresentation 53.Right to restrain from use of firm name or firm property 54.Agreements in restraint of trade 55.Sale of goodwill after dissolution. Rights of buyer and seller of goodwill. Agreements in restraint of trade

VII — REGISTRATION OF FIRMS

56.Power to exempt from application of this Chapter 57.Appointment of Registrars 58.Application for registration 59.Registration 60.Recording of alterations in firm name and principal place of business 61.Noting of closing and opening of branches 62.Noting of changes in names and addresses of partners 63.Recording of changes in and dissolution of a firm. Recording of withdrawal of a minor 64.Rectification of mistakes 65.Amendment of Register by order of Court 66.Inspection of Register and filed documents 67.Grant of copies 68.Rules of evidence 69.Effect of non-registration 70.Penalty for furnishing false particulars 71.Power to make roles

VIII — SUPPLEMENTAL

72.Mode of giving public notice 73.[Repeals.]74.Savings

Schedule I.MAXIMUM FEES Schedule II.[Enactments Repealed.]

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