Legal Question in Business Law in India

who is a working partner ?

what are all the liabilities of working partner ?

Do working partner have a right to share the loss ?

Asked on 8/06/09, 6:15 am

6 Answers from Attorneys

Sudershan Goel Sudershan Goel - Advocate, International Visiting Scholar, USA [2008-10]
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All partners, except those admitted only to profit like minors, are working partners and share profits and loss equally with other partners.

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8/06/09, 7:18 am
RAJIV GUPTA (Cell: +91 9811284735) lawnrajiv@gmail.com
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it all depends upon the memorandum of partnership and term and conditions agreed between or amongst the partners.

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8/06/09, 7:48 am
Vishwa Arya Arya & Co.
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Please refer to Indian Partnership Act. One who is not sleeping partner is an active or working partner. One needs to refer to the agreement to precipitate the sleeping or working partner.

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8/06/09, 1:38 pm
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It depends upon partnership deed but an active partner is liable for losses also upto the extent of his share.

Your further clarification is welcome at nominal consultation fee;

KAMAL GROVER,

Advocate (Chandigarh, India)

M: 09814110005

e-mail: adv.kamal.grover@gmail.com

Note: We are group of advocates, experts in different fields of law in Supreme Court, All High Courts and few district courts of India and your case will be handled by our experts in your locality in India. Rest you may get only guidance and can engage any local lawyer plz..

Regards and good luck

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8/06/09, 2:21 pm
Pranav Desai PD Legal & Associates
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Go through the partnership deed to check if working partner can share losses. However, for the purpose of defining working partner refer to the partnership act.

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8/07/09, 1:01 am
Seshadri Srinivasan www.lawconcern.com
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Working partners are ones who are named as such in the Partnership deed. They may share profit and loss as per agreed terms.

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11/02/09, 2:38 am

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