How to introduce new partner in partnership firm ?

912 votes

You can introduce a new partner in your partnership firm by way of amending the partnership agreement or by way of making a new affidavit and annexing the same in the old agreement introducing the new partner in the partnership firm.
The second option is available only when your partnership agreement states that it can be amended by the way of additional annexure else you have to draft a new agreement.

Advocate Pulkit Prakash LawRato

679 votes

Dear sir,

New partner can introduce with existing partnership firm .For new partner ,supplementary amendment deep is required for addition the new partner .as par law given below

Indian Partnership Act, 1932

CHAPTER V : INCOMING AND OUTGOING PARTNERS

31. 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 become liable for any act of the firm done before he became a partner.

Advocate Rajendra Singhania LawRato

779 votes

This can be done by way of an amendment to the existing partnership and with consent of all existing partners. The amendment agreement may also be registered once signed. The partnership proportion post the induction will also need to firmed up.

Advocate Joydeep Nath LawRato