Change in Partnership Deed

Under Section 58 of the Partnership Act, 1932 a firm can be registered at any time, not necessarily at the time of its formation but subsequently also by filing of an application with the Registrar of Firms of the concerned area where the partnership firm is situated.

When the Registrar of Firms is satisfied that the provisions of section 58 have been duly complied, it shall then issue a Certificate of Registration.

But during the course of the business, many situations may arise like;

1. The place of business may change. (change of address)
2. The partners may decide to change the name of the Firm.
3. There may be admission or removal of the partners in the Firm.
4. The old partners may resign the Firm.
5. The minor Partner entered at the time of constitution of firm may attain the age of majority.

The Partners are then bound to inform the Registrar of Firms about such changes in the Partnership Firm. Consequent to which they need to draft a new Partnership Deed as per the changes and must again file the application along with required documents to the Registrar of Firms with the applicable fees mentioned.

Under section 63 (1), when any change happens in the constitution of the firm, if a registered firm is dissolved, any person who was a partner immediately before the dissolution or the agent of any such partner or person specially authorized on his behalf, may give notice of such a change to the Registrar of firms, specifying the date thereof.

Under Section 63(2), when a minor who has been admitted to the various benefits of partnership attains the age of majority and elects to be or not to be a partner in the firm, he or his appointed agent (specially authorized) in this regard, may give notice to the Registrar of firms that he has or has not become a partner in the firm.

PROCEDURE FOR CHANGES IN THE CONSTITUTION OF THE FIRM

1. Drafting of a new Partnership Deed according to the changes in the constitution of the Partnership Firm.
2. Filling of the concerned Form (Bold Letters) as per the requirement given in the above table.
3. Payment of the Challan Fees with the respective Bank.
4. Submitting of the application with the concerned Registrar of Firms of the State along with following Documents:

Copy of the Old Partnership Deed duly attested by the Notary of the concerned town where the Registered Office of the Firm is located.

Copy of the New Partnership Deed (at the time of Changes in the Constitution of Firm) on a stamp paper duly attested by the Notary of concerned town where the Registered Office of the Firm is located.
Passport sized photographs & Identity Proofs of all the partners, along with the newly admitted partners, if any, duly attested by Notary, Officer.
Copy of the Challan receipt deposited in the Bank.
If the place of business has been changed then Ownership proof of the new place of business.
Copy of the Certificate issued at the time of constitution of the Firm, duly attested by Notary or any Gazette Officer.