पार्टनरशिप फर्म का रजिस्ट्रेशन (बिहार)
At a glance
- Law
- Indian Partnership Act, 1932
- Who
- Two or more partners
- Where
- Registrar of Firms (Inspector General of Registration, Bihar)
- Time
- Deed 2–5 days · registration 2–6 weeks
What it is
A partnership is formed when two or more persons agree to carry on a business and share its profits, under the Indian Partnership Act, 1932. The agreement is recorded in a partnership deed. The firm is then registered with the Registrar of Firms. In Bihar, registration is handled by the Inspector General of Registration as Registrar of Firms.
Who can apply
- The partners of the firm, at least two persons.
Why registration matters (Section 69)
An unregistered firm, or its partners, cannot file a suit in court to enforce a contract against a third party or against each other. Registration is therefore essential for recovering dues through the courts.
Step-by-step process
- 1
Decide the terms
The firm name, the business, capital contribution, profit-sharing ratio, salary or interest to partners, banking powers, admission and retirement of partners, and dissolution.
- 2
Partnership deed
Draft the deed and execute it on stamp paper of the value applicable in Bihar, signed by all partners. Getting the deed notarised or registered before the Sub-Registrar is advisable.
- 3
PAN and bank account
Apply for the firm's PAN and open a current account in the firm's name.
- 4
Application to Registrar of FirmsSection 58
Submit the statement in the prescribed form, signed by all partners. It gives the firm name, principal place of business, other places of business, names and addresses of the partners, the date each partner joined, and the duration of the firm. Attach the deed and the fee.
- 5
RegistrationSection 59
The Registrar records the firm in the Register of Firms and issues the certificate.
- 6
Other registrations
GST, Udyam (MSME) and trade licence, as the business requires.
Documents required
Checklist · 5 items- Partnership deed signed by all partners
- Application / statement in the prescribed form (Form A)
- Identity proof, address proof, PAN and photographs of all partners
- Proof of the principal place of business: ownership document, or rent agreement with the owner's no-objection
- Fee receipt
Time usually taken
2 to 6 weeks for registration
The deed can be ready within two to five days. Registration with the Registrar of Firms ordinarily takes two to six weeks.
Points to remember
- 01Any later change, such as a change in partners, firm name or address, must be notified to the Registrar (Sections 60–64).
- 02Partners are personally liable for the firm's debts without limit. Where limited liability is wanted, a Limited Liability Partnership (LLP) or a company is the appropriate form.
- 03A clear clause on what happens when a partner dies or retires prevents many later disputes.
Frequently asked questions
What happens if a partnership firm is not registered?
Under Section 69 of the Indian Partnership Act, an unregistered firm, or its partners, cannot file a suit in court to enforce a contract against a third party or against each other.
Who registers partnership firms in Bihar?
The Inspector General of Registration, acting as Registrar of Firms.
Must a change of partners be reported to the Registrar?
Yes. Any later change, such as a change in partners, firm name or address, must be notified to the Registrar (Sections 60–64).
Are partners personally liable for the firm's debts?
Yes, without limit. Where limited liability is wanted, a Limited Liability Partnership (LLP) or a company is the appropriate form.
About the author
Advocate Vivekanand
Founder & Principal Advocate, Vivekanand Law Firm · MA (English), MBA, LL.B., Author. Full profile
Disclaimer. This publication is for general legal information and education only. It is not legal advice on any particular matter and does not create an advocate-client relationship. Procedures, fees and time limits change from time to time and may differ from office to office; verify the current position before acting.
यह प्रकाशन केवल सामान्य कानूनी जानकारी और शिक्षण के लिए है; यह किसी विशेष मामले में कानूनी सलाह नहीं है, और इससे अधिवक्ता-मुवक्किल संबंध नहीं बनता।
— Adv. Vivekanand, Motihari