27 April 2024
As per Section 63 of the Indian Partnership Act, 1932, a notice needs to be sent to the registrar of Firms if there's a change in the "constitution of the firm." My question is:
Do adjustments of terms among existing partners in a registered firm, through a supplementary or amendment deed (including profit-sharing ratio changes), qualify as a "change in constitution" requiring a notice to the Registrar of Firms, considering there's no admission of new partners or retirement of existing ones?
CAclubindia
