Section 59 of IPA : Section 59: Registration

Explanation using Example

Imagine that Priya and Aman decide to start a partnership firm called 'Tech Innovations'. They draft a partnership deed outlining the terms of their business relationship and the nature of their business. After finalizing the details, they submit the required documents and the prescribed form to the Registrar of Firms for registration of their partnership.

Upon receiving their application, the Registrar checks that all the necessary information as per Section 58 of the Indian Partnership Act, 1932, is provided and that the application is in order. Satisfied with the compliance, the Registrar then records the partnership in the Register of Firms and files their statement, thus officially recognizing 'Tech Innovations' as a registered partnership firm.

In Karnataka, if 'Tech Innovations' was affected by the reorganization of states, they would have to refer to the specific amendment in Section 59A, which takes into account the historical changes in state boundaries when dealing with the registration process.

If Priya and Aman were in Maharashtra and they were registering their firm after the amendment in 2018, they would have to ensure that the fee they paid for registration reflects the updated amount of one thousand rupees instead of the old fee of one hundred rupees.