Partnership firm & liability of Partners

 Partners of firms are responsible to pay the loans , but during loan any partner retires then partnership do not  goes to dissolution of the firm if partners are more then two and accounts are to be settled between the retiring partner and remaining  partner 

In other case if other partner joins the firm in place of retiring partner under new partnership  , then the liability of retiring partner do not cease until the accounts settled  but it may be shifted to new partner if he accepts liability of  payment  under an express agreement 

So far as share in property has concern it would be transferred through registered deed only and mortgage property would remain mortgage until fresh registered transfer  deed is not executed between retiring partner and admitting partner 

In case property  being not changed as collateral security  when the share of retiring partner is already mortgaged  with bank  then liability of retiring partner would remain intact with bank with the new partner 

Bank do not go in dispute of partners and advises to borrower firm to transfer the share present in mortgage property to new admitted partner under new partnership agreement or replace the mortgage property belonging to new partners for accountability of new partnership 

So far as auditing of firm account by bank has concern , mortgage to be replaced in the partnership of new partner in case of continuity of loan account ,executant of loan document of new partners couple with mortgage property  of firms property of retiring partner create diversity in liability , to cope the diversity , liability to be fastened upon new partnership and fresh mortgage to be obtained of new partnership owning share of new partners 

Novation of contract (Sec 62 of Indian contract Act) between financing bank arises when it is arrived between financing bank and new partnership  , the previous contract rescinded and novation of contract formed by new partnership  while acknowledging the  liability of dissolved firm ,

Acknowledgement of previous liability of dissolved firm should be obtained with duly stamped  of acknowledgement, by new partnership firm 

Sec 39 of Partnership Act is very relevant in case where partners are more then two and one retires and in place of retired partner another partner being admitted then partnership continues with the new partnership agreement 

This was discussed in a reported civil appeal number 6659-6660 of 2010 Supreme Court title Guru Nanak Industries Faridabad & another  v/s  Amar singh (D) through LR’s decided on 26/05/2020 

In para number 12 of judgement it was discussed regarding dissolution of firm and retirement  of partner 

There is clear distinction between a  case of retirement and case of dissolution of firm  

On retirement of partner , the reconstituted firm continues and retiring partner is to be paid his dues in terms of sec 37 of the partnership act  but in dissolution of firm  accounts are to be settled and distributed as per mode prescribed  in sec 48 of partnership act 

 

 

Yoga in astrological prediction

 Yoga word synonyms to combination of more then one word ,power, experience the effect of yoga it may effect in positive of negative, if adding is fruitful or beneficial it would be more powerful then single  if the nature is deducting it would creat in loss of power : The mathematical proposition gives a best idea of impact of yoga , this may be an scale of measurement , How it’s influence or impact when yoga is created by means of mathematics 

Applying this principle in life , our life singly is quite different then yoga creating by way of assembly of family members ,In the astrology our  planets position is good but the delivery of judgement is not influential , the reason is this a single planet works but not works as it could change the life

To make yoga in astrology , when single planet is posited in horoscope ,  take assistance of lord of good house and make it friendly by chanting or swearing their mantra , 

Actually seed mantra are seed of mantra that are very active and becomes active when we propose 

Combination of Center lord  in horoscope  have  more power then a single planet , this yoga changes the life of single planet , remember a single men can’t do the things different in world , yoga have a great role to change the life , 

Yoga in yogic activity gives a pleasure of soul when two Nadi gets combined that is called  Sushmana   nadi and it has power of more concentration and it’s impact are magical for the inner experience  

Concept of Politics

 Politics makes a person powerful , Nothing impossible in politics , Persons in politics are neither friends nor enemies , Politicians never quarrel nor defame to others , it’s their quality that they respect each other , The personality of a politician to be reflected in public at large , an attractive personality , Good politicians are always respected by opposition , if any quarrel is made out it goes to policies but not in their personal behaviour , Policies are attacked by opposition in democracy , The scope of personal attack is very limited , how a politician becomes unfit in the eye of public keeping in view of  his assessment of work done for the public at large , or work against the public , actually personal attacks are not good in democracy , if any thing makes liable then that should be proved , without proofs any allegations are not in the interest of democracy , It is the public who would say that it is unfit due to its policies adopted with public   The requirement of public consciousness is required for the purpose of real & healthy democracy 

Life is an adjustment of thoughts

 Life is a expression of your thoughts , how long you overcome upon other thoughts , how long you adjust upon other thoughts and how long follow to other thoughts , The forbearance power  of your feelings  generates and strengthen your power of understanding, The outfit of your body what your personality seems but inner fit is a quite different how you adjust in your life to others ,There is a other phenomenon where you do not express your views , neither  suggest nor comes in the influence of others , this is a certainly your behaviour is other nature where your thoughts are very alone but these thoughts are  without any principle has not impacted upon others , Socially every people has their sphere of thoughts that kind of thoughts work when come in the touch of others and without expression of thoughts we are not able to understand who control us , who adjust or who obey or who follow us : Life is an adjustment of our thoughts some time we control others , some time obey and some time follow , To  make unfollow to other thoughts , is when you are in opposition to other thoughts and this starts when your conscience do not allow these thoughts , this is a origin of other compulsions , by hook and crook , through principles and through moulding emotions by way of thoughts , 

Unknown Power

 To act in accordance to directives of unknown power , when a recognition is made by our inner conscience ,which some time direct to work or hinders not to work and to obey these directions , it will be after a some time like you learn from heart , This is a way of success when some thing is very near to you and this is also a first ladder of premonition, and this activity energises from doing an activity with a positive work , Do work daily one or two work without any selfish motive  and this beginning would attract new development in your life , start your day with few good work 

Laws & Flaws

 Uniformity in law strengthens the  constitution , it also gives the uniformity of law in  sovereign state : our constitution gives legislative  power to legislative body  through article 246 under schedule vii three lists prescribes the legislative authority under  ;, state list , Center list and third concurrent list where both state and Center can make legislation upon the subjects defined in concurrent list : The uniformity in law is not seen upon some subject where the power of legislation defined as a subject of state ,  thus the law framed by various states are drafted in accordance to their state legislative body In various state stamp duty & registration fee are either charged different from other state or not charged where central law  depicts that a document not required compulsory to be registered , keeping in view , a legal document for example Power of attorney , stamp & registration is subject of state and in some states  , the registration is not compulsory and evasion of stamp duty happens due to the very reason that ,stamp duty and registration is a subject of state list  : In a reported case of Suraj Lamp & Industries Pvt Limited  v/s state of Haryana   decided on dt 11/10/2011     , Supreme Court called the Haryana , Dehli ,Punjab , Utter Pradesh states  and issued notice for suggestions  for discouraging  the practice  where title transferred through unregistered general  power of attorney, will , unregistered sale agreement   ,, a loss caused to  state govt , These flaws of legislation accruing from the power assigned from state list and states are free to enact the law as per their choice :some states don’t charge stamp duty and registration charges and this gives loss in govt revenue and dispute in title 

Blogging in law articles

 The essence of writing in few sentence is a process where we close our reading a book in minutes not in hours : we are so busy that we don’t have spare time to read an article , in hours and the subject we draw our attention is brevity in our writing but these writings should have the essence of reading , efforts with due care to interpret law is a very difficult and it would be very difficult to reproduce the logics in judgements without understanding the essence of conclusion , it’s base in law , gives conclusion , The blogging is a branch of writing where we used to produce the material in few sentence , while reading a judgement , law in a whole , The essence is always gives a direction for legal clues for a person of having taste in jurisprudence which was discussed in a particular judgement in the finality of Supreme Court , it’s like a digest for a reader  & it’s a summary of law in few sentences : The relevant law helps us in a deep study of law by blogging in law :