Subject to contract between the partners,--
(a) if a partner derives any profits for himself from any transaction of the firm, or from the use of the property or business connection of the firm or the firm name, he shall account for that profit and pay it to the firm;
(b) if a partner carries on any business of the same nature as and competing with that of the firm, he shall account for and pay to the firm all profits made by him in that business.
(a) if a partner derives any profits for himself from any transaction of the firm, or from the use of the property or business connection of the firm or the firm name, he shall account for that profit and pay it to the firm;
(b) if a partner carries on any business of the same nature as and competing with that of the firm, he shall account for and pay to the firm all profits made by him in that business.
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More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Application of provisions of Act 9 of 1872.Section 4 · Definition of “partnership”, “partner”, “firm” and “firm name”.Section 5 · Partnership not created by status.Section 6 · Mode of determining existence of partnership.Section 7 · Partnership at will.Section 8 · Particular partnership.India Code, Government of India. Text fetched 24 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.