It may be noted that the minor .
This query is : Open
24 December 2009
It may be noted that the minor has to give the notice to the register that he has or has not become a partner, so as per which section it is applicable. What is the time limit to give notice to the register & if not then he will be considered as a partner or not or with the penalty provision will be attracted or any kind of prosecution if any? Please help as per which section, act it is possible.
Thank U .
Thank U .
26 December 2009
Dear Pratik,
Plz frame clear question. I think you want to know "If minor is a partner in a firm, upon being major he has to give notice, the what is time limit"
On being major, he has to choose within 6 months, whether he wants to be partner or not. If he does not give any notice, he shall be deemed to be partner, and liable for all the debts of firm since he was introduced as partner.
I will advice you to please read the law first, and then make query. You can purchase bare act from market or download ANY act from india.gov.in.
Regards
CS Pawan Kumar Baid
Plz frame clear question. I think you want to know "If minor is a partner in a firm, upon being major he has to give notice, the what is time limit"
On being major, he has to choose within 6 months, whether he wants to be partner or not. If he does not give any notice, he shall be deemed to be partner, and liable for all the debts of firm since he was introduced as partner.
I will advice you to please read the law first, and then make query. You can purchase bare act from market or download ANY act from india.gov.in.
Regards
CS Pawan Kumar Baid
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