Appropriation of Assets on dissolution of firm

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Kapil Sharma (Querist)

19 March 2010 Hi, Everybody.
My query is, a firm had been dissolved, and partner of firm want to know that the capital assets of the firm is divided between partner in which ratio? partner ship deed is silent in this regard.
One of them said in Profit sharing ratio,
and other said in capital ratio.
Plz solve this.
Thanks in advance.

M Prabhakar Menon

M Prabhakar Menon (Expert)

19 March 2010 If the partnership deed is silent on any issue then the relevant provisions of The Indian Partnership Act 1932 will apply in that regard. Pl c section 48 of the Act.

Kapil Sharma

Kapil Sharma (Querist)

23 March 2010 Thanks for your response.
But sir i can't find any provision relating to appropriation of capital assets under sec 48,
will u plz provide any attachment relating to this. so that i have written proof what has been siad in act.

Kapil Sharma

Kapil Sharma (Querist)

23 March 2010 plz provide it as soon as possible

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