The position of minor partner may be studied under the following two heads: 1. Position before Attaining Majority 2. Position on Attaining Majority. 1. Position before Attaining Majority: (i) Every minor partner has a right to such share of the property and of profits of the firm as may have been agreed upon. (ii) Every minor partner has a right [...]
After reading this article you will learn about the rights and duties of partners. Rights of Partners: The rights of partners are given below: 1. Every partner has the right to participate in the conduct and management of the business. 2. Every partner has the right to have access to and to inspect and copy any of the books of [...]
A private company may become a public company in any of the following three modes: 1. Conversion by Default. 2. Conversion by Operation of Law or Private Company to be Deemed Public Company. 3. Conversion by Choice. 1. Conversion by Default: Where a private company makes a default in complying with the statutory requirements as laid down in Sec. 3(1)(iii) [...]