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Section 47: Continuing authority of partners for purposes of winding up.

The Indian Partnership Act, 1932Central Act · Act 9 of 1932

After the dissolution of a firm the authority of each partner to bind the firm, and the other mutual rights and obligations of the partners, continue notwithstanding the dissolution, so far as may be necessary to wind up the affairs of the firm and to complete transactions begun but unfinished at the time of the dissolution, but not otherwise:

Provided that the firm is in no case bound by the acts of a partner who has been adjudicated insolvent; but this proviso does not affect the liability of any person who has after the adjudication represented himself or knowingly permitted himself to be represented as a partner of the insolvent.

Where this provision sits

ActThe Indian Partnership Act, 1932
Section47
Marginal noteContinuing authority of partners for purposes of winding up.
JurisdictionCentral
StatusIn force as published by the source

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