On the dissolution of a firm every partner or his representative is entitled, as against all the other partners or their representatives, to have the property of the firm applied in payment of the debts and liabilities of the firm, and to have the surplus distributed among the partners or their representatives according to their rights.
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Next · Section 47Continuing authority of partners for purposes of winding up. →All sections / सभी धाराएँThe Indian Partnership Act, 1932 →
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.