Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

It may be noted that the minor .

Save Share

This query is : Open

Pratik Nitin Vyas (Querist)
Follow

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 .

CS Pawan Kumar Baid

CS Pawan Kumar Baid (Expert)
Follow

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

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now