Legal Question in Business Law in India

Can only two hindu undived family create a partnership firm

can two hindu undived family create a partnership firm under Indian partnership act,1932 ?

if yes the liabilities of the h.u.f is limited up to the assets and property of the h.u.f or the karta and its members are also personally liable to the firm?


Asked on 4/16/03, 1:18 am

2 Answers from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

Re: Can only two hindu undived family create a partnership firm

Two HUFs can form a partnership firm. The property of HUF will only be liable. The individual property of the Members of such HUF won't be liable as the partner is HUF.

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Answered on 4/16/03, 10:09 am
Jayesh Desai Jayesh Desai

Re: Can only two hindu undived family create a partnership firm

Yes, two HUF can create a partnership. As long as only two HUF's are partners, only their property will be liable and not that of Individual members of HUF.

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Answered on 4/16/03, 11:16 pm


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