Partnership deed

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 December 2013 A partnership deed of three brothers was registered in 1996. While the same partnership deed was amended in the year 2001 with just the change in the profit sharing ratio . Does amended partnership deed of 2001 also needs to be registered?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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29 December 2013 it is not necessary to register any partnership deed. However, non-registration of amendment deed may render the partners tool-less in case of any dispute.

Querist : Anonymous

Querist : Anonymous (Querist)

29 December 2013 There is a dispute now and one of the partner is claiming the 1996 partnership deed while the majority partners is calming the amended partnership deep. Which deed will be applicable ,as the matter is gonna decide by the arbitrator .(note- the firm is an huf firm where all partners are real brothers)

Nikhil Kaushik

Nikhil Kaushik (Expert)
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29 December 2013 well in court of law the registered deed should prevail. nevertheless, if the profits have been annually distributed in the new profit sharing ratio since the signing of the amendment deed, the other partners can have a strong case to build.

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