Partnership Registration in Delhi

Complete procedure for partnership registration in Delhi

 Partnership is one of the primary forms of business organization. Partnership companies are where two or more people gather to form a business and share profits in agreed ratios. The partnership business includes all types of trade, work, and professions. Partnership companies are easily created with less compliance compared to companies. With partnership registration in Delhi companies can easily register for them. 

Indian Partnership Law, 1932 regulates and regulates partnership companies in India. People who gather to form a partnership company are known as partners. Partnership companies are created based on contracts between partners. The agreement between partners is a partnership deed that regulates the relationship between partners and between partners and partnership companies. 

Easy to enter

The merging of partnership companies is easy compared to other business organizations. Partnership companies can be included by compiling partnership deeds and entering partnership agreements. Apart from the partnership deed, no other documents are needed. It doesn't need to be registered with the Company Registrar. Partnership companies can be entered and registered in the future because registration is voluntary and not mandatory.

Lacking compliance

Partnership companies must comply with very little compliance compared to companies or LLP. Partners do not require Digital Signature Certificate (DSC) or Director Identification Number (DIN), which is needed for a company director or partner appointed by LLP. Partners can quickly introduce changes in the business.  This is cost-effective, and the registration process is cheaper than the company or LLP. Dissolving partnership companies is easy and does not involve many legal formalities.

Procedure for Registering a Partnership Firm

Step 1: Application for Registration

The application form must be submitted to the Registrar of the State Company, where the company is, together with the specified costs. All their partners or agents must sign and verify the registration application.

Step 2: Selection of Partnership Company Name

Some certain conditions need to be followed when choosing a name:

The name should not be too similar or synonymous with the company that does the same business.The name should not contain words such as Emperor, Crown, Empress, Empire or other words that show government sanctions or approval.

Step 3: Registration Certificate

If the registrant is satisfied with the registration application and document, he will register the company in the Company List and issue a registration certificate. The Company List contains the latest information about all companies, and anyone can see it after payment of specific fees. The application form and costs must be submitted to the registrants of state companies where the company is located.