Revocation of Continuing Guarantee by Change in Firm A continuing guarantee given to a firm, or to a third party in respect of the transactions of a firm, is in the absence of agreement to the contrary, revoked as to future transactions from the date of any change in the constitution of the firm.
Right of Outgoing Partner in Certain Cases to Share Subsequent Profits Where any member of a firm has died or otherwise ceased to be a partner, and the surviving or continuing partners carry on the business of the firm with the property of the firm without any final settlement of accounts as between them and the outgoing
Rights of Outgoing Partner to Carry on Competing Business. (1) An outgoing partner may carry on a business competing with that of the firm and he may advertise such business, but subject, to contract to the contrary, he may not (a) use the firm-name, (b) represent himself as carrying on the business of the firm, or (c) solicit the custom of persons who were
Liability of Estate of Deceased Partner Where under a contract between the partners the firm is not dissolved by the death of a partner, the estate of a deceased partner is not liable for any act of the firm done after his death. Practice area’s of B K Goyal & Co LLP Income Tax Return
Insolvency of A Partner (1) Where a partner in a firm is adjudicated an insolvent, he ceases to be a partner on the date on which the order of adjudication is made, whether or not the firm is thereby dissolved. (2) Where under a contract between the partners the firm is not dissolved by the adjudication of
Expulsion of A Partner (1) A partner may not be expelled from a firm by any majority of the partners, save in the exercise in good faith or powers conferred by contract between the partners. (2) The provisions of sub-sections (2), (3) and (4) of section 32 shall apply to an expelled partner as if he were a retired
Government of India has launched Pradhan Mantri Suraksha Bima Yojana in the year 2015. Pradhan Mantri Suraksha Bima Yojana (PMSBY) is an accident Insurance Scheme offering accidental death and disability insurance cover for death or disability on account of an accident. The scheme is administered through Public Sector General Insurance Companies (PSGICs) and other General Insurance companies
In India, new technological developments are making a high impact on the quantity and the quality of the products, but the fact is that the consumers are still the victim of fraudulent practices. Therefore, the Consumer Protection Act,2019 comes in to force from 20 July, with its salient features including the establishment of the Central Consumer Protection Authority (CCPA) to
Retirement of A Partner (1) A partner may retire – (a) with the consent of all the otter partners, (b) in accordance with an express agreement by the partners, or (c) where the partnership is at will, by giving notice in writing to all the other partners of his intention to retire. (2) A retiring partner may be discharged from
Introduction Of A Partner (1) Subject to contract between the partners and to the provisions of section 30, no person shall be introduced as a partner into a firm without the consent of all the existing partners. (2) Subject to the provisions of section 30, a person who is introduced as a partner into a firm does not thereby
CA Bhuvnesh Kumar Goyal
Chartered Accountants
cabkgoyal@gmail.com
9971782649
Ph: 9971782649
E: cabkgoyal@gmail.com
