Laws & Legal Procedure for Unregistered Partnership Firms to File for Voluntary Winding-Up: Lawyers Advice

Unlike English Law where registration of partnerships firms is compulsory and a penalty is imposed upon registration, the Indian Partnership Act, 1932 doesn’t make registration compulsory. However, the legal effects of registration and non-registration vary. This article seeks to examine the legal procedure for unregistered partnerships firms to file for voluntary insolvency under the IBC. Before elaborating on the procedures and options available to unregistered partnership firms, it is crucial to analyse the governing statues and the respective sections for a better understanding. They are as follows – The Companies Act, 2013 – Sections 375-378 deal with winding up of...