P C Markanda: The Law of Partnership in India

Partnership as a concept has evolved over a period of centuries now. In the nascent stages of the concept, faith and trust amongst the partners was the corner-stone of the partnership and need for a written instrument was not felt necessary. However, with the passing times and changing values, even the written instruments were being flouted with impunity. This is borne out from the fact that initially the law with regard to partnership was contained in Sections 239-266 of the Indian Contract Act, 1872, but the same proved to be insufficient and defective to meet the exigencies thrown by changing times, values and needs. The business community was not satisfied with the provisions, which impelled the legislature to enact a separate law relating to partnership. This led to the enactment of the Indian Partnership Act, 1932. The English law, on which the provisions of the Indian Contract Act were founded, also underwent changes, leading to the English Partnership Act, 1890. The author has extensively and comprehensively covered the various aspects dealing in the Partnership Law.

Salient Features:
• Contains exhaustive notes, commentary on case-law, Indian & Foreign, and State Amendments on the Indian Partnership Act, 1932 (Act 9 of 1932).
• The book also incorporates full text of the Limited Liability Partnership Act, 2008 and Limited Liability Partnership Rules, 2009.
• Case law, both Indian and foreign, as well as excerpts from commentaries of celebrated authors have been included in the book.
• Each Section has been divided into various heads along with a critical analysis of various provisions of the Act for the facility of the readers.

CHAPTER 1 PRELIMINARY
CHAPTER 2 NATURE OF PARTNERSHIP
CHAPTER 3 RELATION OF PARTNERS TO ONE ANOTHER
CHAPTER 4 RELATIONS OF PARTNERS TO THIRD PARTIES
CHAPTER 5 INCOMING AND OUTGOING PARTNERS
CHAPTER 6 DISSOLUTION OF A FIRM
CHAPTER 7 REGISTRATION OF FIRMS
CHAPTER 8 SUPPLEMENTAL
APPENDICES
App. 1 Central Rules—The Indian Partnership (Fees) Rules, 1932
App. 2 Partnership Rules Framed by various States under Partnership Act
A. The A.P. Partnership (Registration of Firms) Rules, 1957
B. The Assam Partnership Rules, 1933
C. The Bengal Partnership Rules, 1933
D. The Bihar & Orissa Partnership Rules, 1933
E. The Bombay Partnership Rules, 1932
F. The Delhi Partnership (Registration of Firms) Rules, 1972
G. The Gujarat Partnership Rules, 1932
H. The Haryana Partnership Rules, 1932
I. The Himachal Pradesh Partnership Rules, 1932
J. The J&K Partnership (Registration of Fees)Rules, 1996 (Samvat)
K. The Karnataka Partnership (Registration of Firms) Rules, 1954
L. The Kerala Partnership (Registration of Firms) Rules, 1959
M. The Madhya Pradesh Partnership Rules, 1951
N. The Madras Partnership (Registration of Firms) Rules, 1951
O. The Maharashtra Partnership Rules, 1989
P. The Orissa Partnership Rules, 1943
Q. The Punjab Partnership (Registration of Firms) Rules, 1932
R. The Rajasthan Partnership Rules, 1952
S. The Uttar Pradesh Indian Partnership Rules, 1933
App. 3 Report of the select committee
App. 4 The English Partnership Act, 1890
App. 5 The Indian Partnership Act, 1932
App. 6 The Sale of Goods Act, 1930
App. 7 The Indian Contract Act, 1872
App. 8 The Arbitration and Conciliation Act, 1996
App. 9 The Limited Liability Partnership Act, 2008
App. 10 The Limited Liability Partnership Rules, 2009
App. 11 Advocates Act, 1961
App. 12 Indian Evidence Act, 1872 [Relevant Extracts]
App. 13 The Oaths Act, 1969
App. 14 The Code of Criminal Procedure, 1973 [Relevant Extracts]
App. 15 The Indian Penal Code, 1860 [Relevant Extracts]
Subject-Index

PC Markanda is a Senior Advocate, Arbitrator and Consultant practicing wholly and exclusively on matters relating to Law of Arbitration and Conciliation and Law of Contract before arbitral tribunals and Courts all over the country and abroad. He has also got multi-faceted experience of civil engineering construction as well as structural design. He was visiting Professor to the College of Architecture, Chandigarh; Member of Governing Council of the Indian Concrete Institute, Chennai; and Member, Academic Council, HP University, Shimla. He is a Fellow of the Institution of Engineers. He is also Secretary of the Governing Body of all the SD Educational Institutions in Jalandhar. He has authored some highly acclaimed books on “Arbitration Law and Practice”, “Law Relating to Arbitration and Conciliation”, “Building and Engineering Contracts – Law and Practice” and “The Law of Contract”. He has also presented a large number of papers relating to the fields of Law of Arbitration and Law of Contract at various national and international forums. The author is the senior-most elected member of the Governing Body of the Indian Council of Arbitration having been elected to this body for seven consecutive terms since 1986. He was also the Vice-President of ICA for two terms from 2007 to 2009.