Registration of alteration
After registration, a firm may have changes in its particulars from time to time. If any change occurs in the constitution of the firm then such changes must be informed to the Registrar of firm.
The changes could be with relation to
- Change in firm name and principal place of business: Change in firm name and principal place of business requires almost a new registration. In such cases, a new application form containing changed particulars is to be sent to the Registrar of Firms along with the prescribed fees and duly signed and verified by all the partners. The registrar will then record the change in the register according to the new form submitted (Sec. 60)
- Change regarding closing or opening of branches: When the firm opens new branches or closes an existing branch the necessary information needs to be supplied to the Registrar of Firms by any of the partners or an agent of a firm by sending a notice of change to Registrar of Firms along with the prescribed fees (Sec. 61). The registrar will then note down the necessary changes in the register.
Note: This does not apply to the principle place of business.
- Change in the name or permanent address of any partner: When the partner of a registered firm changes his name or permanent address then the information needs to be furnished to the Registrar of Firms by any of the partners or an agent of a firm by sending a notice of change to Registrar of Firms along with the prescribed fees (Sec. 62)
- Change in the constitution of the firm (new partner joining or existing partner retiring): In case of reconstitution of the firm i.e. when a new partner joins or existing partner retires, then in such cases a notice regarding the same (along with the date of such reconstitution) should be furnished to the Registrar of Firms by new, continuing or retiring partner of a firm by sending a notice of change to Registrar of firms.
- Change regarding a minor partnerâ€™s decisions (whether to continue or leave) on becoming a major: Sometimes a minor is admitted to the benefits of the firm. Such a minor can after becoming a major decide to leave the firm or may opt to remain in the firm then in such case any decision made by him is to be notified to the Registrar of Firms who shall record the same. The notice can be given by such partner or his authorised agent [Sec 63(2)]
- In case of dissolution of the firm: [Sec 63(1)] states that when a registered firm is dissolved then the notice of dissolution is also to be sent to the registrar of the firms by any person who was a partner of the firm immediately before the dissolution.