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Partnership reg

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mani balan

4 Points Posted on 21 September 2020

as I want to start company with partnership 1 partner is minor and holding 75%share is it possible or not

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Quick Summary

This discussion addresses the legality of a minor holding a 75% share in a partnership company in India. According to Section 30 of the Indian Partnership Act 1932 and the Indian Contract Act 1857, a minor (under 18) cannot legally be a party to a contract, and therefore, cannot be a partner in a partnership firm.

sachin

student

22 Points Posted on 21 September 2020

NOT _Section 30 of the Indian Partnership Act 1932 contains legal provisions about a minor in a partnership. In Indian Contract Act 1857 clearly states that no person less than the age of 18, i.e. a minor can be a party to a contract. And a partnership is a contract between the partners. Hence a minor cannot be a partner in a partnership firm.