.... Alfred George Jardine [(1882) 7 App.Cas 345], the issue relating go dissolution of partnership, liability of retiring partner and election to charge old or new firm came up for consideration...acknowledged any liability through his communications and categorically denied that it never came forward to settle the loan dues and prays for dismissal of the original application.4.9. The...parties to the new contract and the liability of the original contractor can be transferred only by Tripartite Agreement which will amount to Novation and further in para 12.21 observed that “At no...

.... (2) A retiring partner may be discharged from any liability to any third party for acts of the firm done before his retirement by an agreement made by him with such third...Syndicate Bank vs. R.S.R. Engineering Works and Others reported in (2003) 6 SCC 265, wherein also discussed with regard to Sections 32(3) and 72 of Partnership Act, 1932 and held...between the third party and the reconstituted firm after retirement of a partner. In the absence of such an agreement, express or implied, held, public notice is necessary. Even it is held that liability ...

...contended that the appellant was aware of the dissolution of the partnership but that by itself will not absolve the liability of the retiring partners. Section 32 of the Indian Partnership Act, 1...giving notice in writing to all the other partners of his intention to retire.(2) A retiring partner may be discharged from any liability to any third party for acts ....(4) Notices under sub-section (3) may be given by the retired partner or by any partner of the reconstituted firm.”6. Under sub-section ...

...Income-tax Act. In the present case, in fact a sum of Rs. 70,000 was paid to Smt. Qamrunnissa not for further expansion of the business but in order to discharge the statutory liability of a retiring ...of the assets and goodwill of Star Agency. Therefore, it was in discharge of the statutory liability which was redeemed by paying the share of the retiring partner. It cannot be said to b...paid to Smt. Qamrunnissa was not a capital asset or for the benefit of the business. It is held that the payment made to Smt. Qamrunnissa was under the sole statutory liability under...

...the appellants in Appeal No.173/2014 is based on Section 32 of the Partnership Act. As noticed above, retiring partner may be discharged fro...Cases 265 has been relied upon by the ld. Counsel for the bank, wherein it is held as under A. Liability of retiring partner-discharge from - held, can be discharged by an agreement between the...such agreement, express or implied, held, public notice is necessary. B. Liability of a retiring partner against third party-In the absence of agreement discharging the retiring partners, held, th...

...the appellants in Appeal No.173/2014 is based on Section 32 of the Partnership Act. As noticed above, retiring partner may be discharged fro...Cases 265 has been relied upon by the ld. Counsel for the bank, wherein it is held as under A. Liability of retiring partner-discharge from - held, can be discharged by an agreement between the...such agreement, express or implied, held, public notice is necessary. B. Liability of a retiring partner against third party-In the absence of agreement discharging the retiring partners, held, th...

...with a long cited-ness that in case the experienced partner of the firm quits the firm during the pendency of the contract period, the contract awarded to the firm may not suffer, in ...provisions of Section 32(2) of the Indian Partnership Act, protects the right and liability of the firm and the retiring partner and in view of the above, argum...respondent No. 3. The application for registration of the petitioner has been dismissed on the ground that the petitioner firm as such was not having requisite experience and experience of the partner of...

...between partners qua the retiring partner. The consequence is that rule as to the agency of each partner to the rest of the partners would cease to apply in the case of the retiring ...unless those who had previous dealings with the firm had actual notice of the retirement. In order that the retiring partner Can escape liability in regard to the future acts of the continuing partners...existed before or to penalise a retired partner who failed to give public notice of his retirement. The true basis of the liability of a retiring partner is, as we said, on the principle ...

...specifically provided that liability of the retiring partner would be upto march 31, 1994. After march 31, 1994, the retiring partner would not be liable for any act of partnership firm. ...firm would pay the amount to the retiring partner to which he would be entitled upto march 31, 1994. The deed of retirement was signed by all partners including the petitioner. As per the deed of...provided that whatever amount which the petitioner ,retiring partner, would be liable to pay for transactions upto march 31, 1994, would be paid by him to the partnership firm. Similarly, the partnership...

...obligations of the partner continues notwithstanding dissolution. However, a retiring partner may be discharged from any existing liability by an agreement to that effect between himself and the members ...firm as newly constituted, but it does not affect the rights of the creditors. Therefore, the liability of a retiring partner of the firm continues for the period during which he was ...made in the business or place. That does not take away the liability of the partner of the firm for the debts or liability of the firm incurred when the said person was partner ...

...untenable. Further, if such a proposition is a valid one, a question will naturally arise as to what should happen to the liability of the retiring partner to share the future losses. Is there to be a set...the right of a partner to share the profits of the firm is considered to be “property”, there is no question of a retiring partner having a right to share the future profits. If so, such a non-exi...had relinquished their respective interests as shown above in the partnership firm and since the right of a partner to share in the profits of the firm is property capable of transfer and since the...

...retirement from defendant No. 1 firm prior to the institution of this suit. Section 32 of the Indian Partnership Act, 1932 provides remedy to the retiring partner against any ...under :-32. Retirement of a partnerxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx(2) A retiring partner may be discharged from any liability to any third part...provisions of law, a retiring partner can be discharged from the liability to any third party for the acts of the firm done before his retirement in following eventualities :-(i) There shoul...

.... Sub-section (3) of Section 32 of the Partnership Act is very clear as regards the liability of a retiring ...appellants submitted that the partnership was not a registered one and not being a registered one, public notice is not required for effecting retirement of a partner...and that too as required by the statute.7. Section 32(3) of the Partnership Act explicitly provides that notwithstanding the retirement of a partner from a firm, he and the partners...

... Industrial Area, New Delhi in favour of the petitioner to discharge his joint liability and liability of another retiring partner. ...January, 2013 was executed. As per the retirement deed, petitioner and another retiring partner received a machine called 'Scitex Dolev 800V' and they were jointly and severally liable to pay ₹13 lakhs to.... Deepak Kumar, who was examined as DW-2 and was shown the retirement deed as outgoing partner from the partnership firm, stated that he was doing job in the office of the petitioner from 2008 to 2013. He...

...the firm with the defendants as partners thereof. The said deed also provides that all the liability of the retiring partner both before such retirement and after such retirement will be borne by the...giving notice in writing to all the other partners of his intention to retire.(2) A retiring partner may be discharged from any liability to any third party for acts of the firm done before...deal with the liability of the retiring partner after his retirement. Sub-section (2) of section 32 of the said Act provides that the retiring partner may be discharged from any ...

...CIT vs Delhi Beedi Sales Agencies (225 ITR 54) (MP) it was submitted that different payments were made to discharge the statutory liability of ...) (Bombay), it was submitted that the facts are different since the payments were made to retiring partners annually. c) In the case of...liability of whatsoever nature, whether crystallized !or not. 14. Party No. 3, the Company and Parties 2, 4, 5 and 6 hereby ratifying all the transactions done by Party No 1 in. the...

...a partner. Sub-section (2) of Section 32 makes a provision that retiring partner may be discharged from the liability to a third party for acts of the firm done before h...is that rule as to the agency of each partner to the rest of the partners would cease to apply in the case of the retiring partner. A strict application of this rule would cause hardship ...liability of a retiring partner is, as we said, on the principle of holding out. There can be no holding out if the person who deals with the new firm is aware of the retirement of a part...

...Partnership Act is not a condition precedent for exonerating the retiring partner from his liability regarding transactions undertaken by the remaining partners after the retirement of outgoing...the partners, or where the partnership is at will, by giving notice in writing to all the other partners of his intention to retire. (2) A retiring partner may be discharged from any liability to ...retired. In such an eventuality, if a public notice is issued and even though individual notices are not issued to such third parties about retirement of the concerned partner, the retiring partner can escape from ...

...Partner, while S. 32(2) of the Act provides for a retiring Partner to be discharged from any liability to any third Party for acts of the firm done before his retirement, by an agreement made by h...appellant was one of the Partners of the 1 defendant-firm of which the 2 defendant was another Partner which had contracted the liability due to the plaintiff, the mere resignation of the appellan...was a Partner of the firm by which the appellant could seek discharge from the liability to the plaintiff, no exception can be taken to the reasons, findings and conclusions arrived at by the court...

...to this case. In the context of considering the civil liability of a retiring partner or a partner of a dissolved firm it has been held that in the said decisions that the procedure presc...until public notice of dissolution is given. Even though as between the partners the firm has been dissolved prior to such notice. But while considering the criminal liability of the retiring partner ...of him.(2) The Petitioner has not received any money nor issued any cheque in favour of the respondent.(3) The Petitioner is not a partner on the date of alleged...