Registered Partnership Firm But Not Updated

752 votes

The registration remains valid since the firm has already been registered and you should also have a registration number. However, it's important to inform the Registrar about any changes; failing to do so may result in a penalty for late intimation. Also, a reconstitution application cannot be submitted without the signatures of the other partners, as their consent is mandatory.

Advocate Saylee Chaudhari LawRato

730 votes

As an advocate, your primary concern would be the firm's standing under the Indian Partnership Act, 1932. The repeated reconstitutions without intimation to the Registrar of Firms, while a default, do not ipso facto invalidate the original registration. The firm's registration per se exists. However, for the purpose of filing a suit, Section 69 of the Act is crucial: an unregistered firm or a firm that has not filed the required particulars of changes (like reconstitution) with the Registrar cannot enforce rights arising from a contract in a court of law against a third party or amongst partners. Therefore, while the registration's validity exists, the firm's capacity to file a suit regarding internal disputes without updating the Registrar is highly questionable and likely barred by Section 69(1) or (3) unless the suit falls under an exception like dissolution or accounts.

Advocate Mahrukh Khan LawRato