• About public notice regards to retirement of partner from partnership firm

I have retied from partnership from and as per partnership act i have given public notice in 2 news papers, one in daily local vernacular news paper which is not famous and another is in English news paper the new Indian express,both are are not very famous ,,,my question is do i need to give again public notice in widely circulated famous paper or is it sufficient which i already given in 2 daily papers which have medium or low circulation
please answer
Asked 5 years ago in Business Law

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30 Answers

Since you have complied with the statutory requirement of giving Public Notice in vernacular as well as in English newspapers, irrespective of whether the newspapers have medium or low circulation, this should suffice. There is no need for you to again publish public notice in newspapers.

Shashidhar S. Sastry
Advocate, Bangalore
5623 Answers
339 Consultations

The mode of giving notice has been laid down in Section 72 of the Partnership Act which says that a public notice has to be given by intimation to the Registrar of Firms under Section 63 and by publication in the Official Gazette and in at least one vernacular news-paper circulating in the district where the firm to which it relates has its place of principal place of business.

 

2) 

  1. Mode of giving public notice

A public notice under this Act is given-

  1. where it relates to the retirement or expulsion of a partner from a registered firm, or to the dissolution of a registered firm, or to the election to become or not to become a partner in a registered firm by a person attaining majority who was admitted as a minor to the benefits of partnership, by notice to Registrar of Firms under section 63, and by publication in the Official Gazette and in at least one vernacular newspaper circulating in the district where the firm to which it relate has its place or principal place of business, and
  2. in any other case, by publication in the Official Gazette and in at least one vernacular newspaper circulating in the district where the firm to which it relates has its place or principal place of business.

Ajay Sethi
Advocate, Mumbai
99775 Answers
8145 Consultations

1. The public notice to a news paper is enough for the requirement of fulfillment of public notice as per Partnership Act.

2. The number of circulation of the news paper  is not the criteria which has been mentioned in the Act.

3. In other words you have complied with the provisional requirement of the Act and you do not need anything more to do. 

Devajyoti Barman
Advocate, Kolkata
23653 Answers
537 Consultations

No need to give another notice.

Swarupananda Neogi
Advocate, Kolkata
2993 Answers
6 Consultations

Respected sir ....

You have done your job that is sufficient as per laws you need to give that again in any kind of newspaper ...giving only in one newspaper is even sufficient ...that is clearly mentioned that you have to give but that is not there in which you have to give specific so you are at safe end need not to worry....

 

Thank you

Dinesh Sharawat
Advocate, Delhi
1266 Answers
12 Consultations

No need it's enough. You only required one local and one national daily news paper

Prashant Nayak
Advocate, Mumbai
34514 Answers
249 Consultations

The public notice given in two local newspapers shall be the proper procedure that has to be followed  and you have scrupulously carried it out,  there's no necessity to publish the same in only popular newspapers. 

This will be sufficient. 

T Kalaiselvan
Advocate, Vellore
89977 Answers
2492 Consultations

This will suffice.

You will also have to take a gazette publication and thereafter perform some documentation/fill up some forms after visiting the Office of the Registrar. Thereafter, a revised certificate of p[partnership will be issued reflecting the names of the on going partners. 

Vibhanshu Srivastava
Advocate, Lucknow
9763 Answers
323 Consultations

- As per section 32(1) of the India Partnership Act, Every partner in the partnership has the right to retire as long as they give notice to the other partners.

- If the partner is retiring from a registered firm, they will need to announce their retirement in three different ways:

  • In the Registrar of Firms.
  • In the Official Gazette.
  • In a vernacular newspaper that's distributed where the partnership conducts business.

- Since, you have published the public notice for your retirement in two news paper , out of which one news paper Indian Express is a famous paper in all states of India.

- The condition is that , that paper should be distributed where the partnership conducts business. 

- if you think that the said news  paper is circulated in the area , even low , then no need of publish the same again, because it is not mandatory legally , to publish in leading news papers . 

- Hence, it is sufficient , and no need to publish the same again. 

 

Good luck and dont forget to rating Positively.

Mohammed Shahzad
Advocate, Delhi
15814 Answers
242 Consultations

1. To Resign /Retire from the Partnership Firm, the following needs to be done:

a) Proper Resign /Retire letter to other Partners

b) Undertaking to indemnity all liabilities, till your tenure and relinquishment of all your stake /rights in the Firm

c) Public Notices in two local newspaper

d) Notice to ALL the Registering Authorities, which includes ROC, GST, I,Tax Dept., local Municipal authorities, etc.... (as the case may be)

 

Hemant Agarwal
Advocate, Mumbai
5612 Answers
25 Consultations

Retirement of a partner from a partnership firm change the constitution of the phone and the rest of the partners have to execute another partner ship deed

Vimlesh Prasad Mishra
Advocate, Lucknow
6851 Answers
23 Consultations

Dear Sir,

Never stay in suspicions circumstances. Clear your doubt now itself, it is a matter of few thousands. Get issue notifications in two more widely circulated news papers. As this lacuna cannot be cured at a later point of time. 

Kishan Dutt Kalaskar
Advocate, Bangalore
6230 Answers
499 Consultations

1. You have complied with the statutory procedure.

2. The word 'famous newspaper' has neither been used nor defined in the Act.

 

Ashish Davessar
Advocate, Jaipur
30840 Answers
981 Consultations

- Yes, your mentioned numbers are enough to prove public notice, as there is no provision that the said newspaper should be high circulated . 

Mohammed Shahzad
Advocate, Delhi
15814 Answers
242 Consultations

Hi

It is ok to publish in any newspaper.

It is not required that the newspapers must be very highly circulated 

Rahul Jatain
Advocate, Rohtak
5365 Answers
4 Consultations

HI 

Under Order V Rule 20(1) of civil procedure code, it is always recommended to publish Public notices pertaining to Partnership Firms  in news papers recommended by the District Registrar of Firms , 

To the best of our knowledge, new indian express is approved by all district registrars for publication and the vernacular news paper having circulation of 24000 copies in the district is sufficient proof to prove publication of public notice of retirement from  partnership.

Hopefully, notice of retirement from partnership has been communicated to other partners vide registered post with acknowledgment due. 

No need to worry as you have complied with the statutory requirements pertaining to intimating public at large of your retirement from partnership

 

Rajgopalan Sripathi
Advocate, Hyderabad
2173 Answers
394 Consultations

This is a news paper and hence no public notice is published in this way. 

Devajyoti Barman
Advocate, Kolkata
23653 Answers
537 Consultations

Vernacular newspaper is published in district where you are carrying on business .it should be sufficient 

Ajay Sethi
Advocate, Mumbai
99775 Answers
8145 Consultations

Actually it's should be dominant local news paper with sone good circulation but there is no issue for legal requirements it's enough

Prashant Nayak
Advocate, Mumbai
34514 Answers
249 Consultations

Dear Sir/Madam,

As per your input, you have done your work and given notice sufficiently. No further work is required in this regard.   

Ganesh Singh
Advocate, New Delhi
7169 Answers
16 Consultations

Respected sir ....

As above mentioned you even if they have less numbers of circulation then also your work is done you need not to worry..

 

 

Thank you

Dinesh Sharawat
Advocate, Delhi
1266 Answers
12 Consultations

Vernacular news paper dose not haves wide distribution. So it is valid.

Yogendra Singh Rajawat
Advocate, Jaipur
23079 Answers
31 Consultations

Your worries are unnecessary.

Even if the newspaper has very less circulation, since it is is a public notice published in a press media, it cannot be denied because you have issued a public notice and you have evidence for having given notice to public about your proposed intention to quit the company.

Hence you can close your anxiety in this regard which is going to make no difference whether the same was published in a largely circulated newspaper or less circulated.

 

T Kalaiselvan
Advocate, Vellore
89977 Answers
2492 Consultations

2 local newspapers one in the regional language one in in English is sufficient.

Rahul Mishra
Advocate, Lucknow
14114 Answers
65 Consultations

Yes that is enough. It is not your problem if the circulation is not more.

Rahul Mishra
Advocate, Lucknow
14114 Answers
65 Consultations

Response to both your posts:

You have complied with the statutory requirements of informing the General Public / Public at Large about your retirement from PSF.

What ever you have done is sufficient.  Once the notice is issued around the principal place of business it is enough.

You need not worry about the circulation of the news paper, for example you might have issued notice in News Paper "A" which is widely circulated, but some people read only news paper "B" which is also widely circulated it does not mean, that you have not intimated the general public who read News Paper "B".  

Circulation is not the criteria, releasing the notice in two news papers i.e., one in vernacular and other in English language is enough.

Your act is correct, need your worry.

S Srinivasa Prasad
Advocate, Hyderabad
2876 Answers
9 Consultations

Its sufficient.

Swarupananda Neogi
Advocate, Kolkata
2993 Answers
6 Consultations

Every partner in the partnership has the right to retire as long as they give notice to the other partners.

If the partner is retiring from a registered firm, they will need to announce their retirement in three different ways

In the Registrar of Firms.

In the Official Gazette.

In a vernacular newspaper that's distributed where the partnership conducts business.

The retiring partner should create a deed of retirement that further defines the conditions and terms of their retirement. 

the retiree needs to sign their retirement deed along with the other remaining partners, as required by section 32(3) of the Indian Partnership Act. Keep in mind that without a deed of retirement, a retiring partner will still be liability to third parties even if that liability is taken over by the remaining partners. The deed of retirement protects the partner by forcing the remaining partners to cover liability in instances related to the partnership.

Mohammed Mujeeb
Advocate, Hyderabad
19325 Answers
32 Consultations

it is enough, there is no specific quantity of the newspaper or famous newspaper like words used in the partnership act.

Nadeem Qureshi
Advocate, New Delhi
6348 Answers
302 Consultations

1. Yes it in enough as advertisment in local news papers are legally valid and you don't have to give any other.

2. Public notice in two news papers are sufficient as they have daily circulation in your local business area. 

Mohit Kapoor
Advocate, Rohtak
10686 Answers
7 Consultations

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