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Abhishek Kumar Gupta   19 May 2018

NOTORISED VS REGISTERED PARTNERSHIP DEED

Does anybody know exactly what is the difference between notarized partnership agreement and registered partnership agreement. also which one is better?


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 8 Replies

R.Ramachandran (Advocate)     19 May 2018

The Partnership (I am not talking about the Partnership Agreement per se) has to be Registered with the Registrar of  Firms. Normally the Registrar of Firms is the Sub-Divisional Magistrates in big Cities and Collector's office in other places.

While I understand that notarized partnership agreement means getting attestation by a Notary Public, I do not understand what do you mean by Registered Partnership Agreement?  Do you mean to say that it will got Registered with the sub-registrar's office?  If that be so, it does not make any big difference between the two.  All it will mean is that the veracity of the partnership agreement either by notarization or registration.  BUT THAT REGISTRATION WITH SUB-REGISTRAR'S OFFICE of the partnership Agreement is Registration of the AGREEMENT and not Registration of PARTNERSHIP.  

That will not satisfy the requirement of Registration of Partnership Firm is required under Partnership Act.

1 Like

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     19 May 2018

registered partnership agreement is the best
1 Like

Abhishek Kumar Gupta   19 May 2018

Sir thanks for your answer. kindly explain what do you mean by "REGISTRATION WITH SUB-REGISTRAR'S OFFICE of the partnership Agreement is Registration of the AGREEMENT and not Registration of PARTNERSHIP.". What is the difference between Registration of the AGREEMENT and Registration of PARTNERSHIP.???

R.Ramachandran (Advocate)     19 May 2018

Registration of Partnership - is registration of the FIRM.  This has to be done with the Sub-Divisional Magistrate's office (Registrar of FIRMS).

Registration of Partnership Agreement - if you want, has to be done with Sub-Registrar's office.

In the first one, you register the FIRM.

In the second one, you just register the Agreement (like any other agreement) and not the FIRM.

1 Like

Kumar Doab (FIN)     19 May 2018

The Partnership Act, 1932

9 General duties of partners.

Section58 APPLICATION FOR REGISTRATION

59 Registration.

https://www.mca.gov.in/Ministry/actsbills/pdf/Partnership_Act_1932.pdf

Registration of the agreement bestows rights from the Act to the person that deal with firm and partners can seek help of court in case of disagreements

Kumar Doab (FIN)     19 May 2018

 

Post query at LCI groupwebsite; CAclubindia

And/or read similar threads

1 Like

Abhishek Kumar Gupta   27 May 2018

Sir/Madam,

1.what is the disadvantage if the partners only register their partnership agreement and not the partnership firm???

2.whether partnership act requires registration of firm or the registration of agreement???

3.if the partners notorised their partnership agreement only, does the partners can sue third parties??

 

kindly answer to the best of your knowledge. thanks.

Abhishek Kumar Gupta   27 May 2018

which case (reg of firm or reg of partnership agreement) gives right to the firm to sue third parties??


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