Registration of Firms

4/22/12

Registration of firm is not

compulsory under the Act, but usually done as registration brings many advantages to the firm......

Registration identifies the firm / partnership ......... So they can do better business Partner cannot sue if firm is unregistered Unregistered firm cannot sue third party
4/22/12

Procedure for registration is simple...... 1. form plus fees to registrar of firms in the state where the firm has business 2. all partners (or their agents) must sign the application: name of firm place of business other places where the firm has business date when each partner joined firm names and addresses of partners duration-indefinite or limited time
4/22/12

- Registration of Firms verifies the above details and enters them in the Register of Firms - Keep the Registrar up-todate - there is imprisonment up to three months, fine or both for supplying false information to the Registrar
4/22/12

Register of Firms

Registrar of Firms maintains a register of Firms that contains information A to Z about firms. The Registrar can rectify mistakes, amend entries upon court directions. Any person can inspect the Register on payment of fee * for protection of partners * Those who deal with the firm

4/22/12

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