Amnesty scheme, Registrar of Firms


The Government should come out with an amnesty scheme for all defaults in registration of partnership firms with Registrar of Firms.

Why an amnesty?
Under the Indian Partnership Act, 1932 (as is applicable in Maharashtra and consequently in Mumbai) registration of a partnership firm with Registrar of Firms (ROF) is compulsory. There are very drastic effects of non-registration. For example, if a partnership firm is not registered, it cannot file a suit against any one!

Additionally, almost every change in information submitted to the ROF must also be registered. For example, if a new partner is admitted or a partner retires or a partner changes his residence, ROF must be informed within a prescribed time. There are monetary penalties for delay in submitting initial application of registration and also for delay in submitting any other information later on.

There are plenty of firms who have not been able to comply with their obligations. This may be due to ignorance, inability or unwillingness :roll: of partners.

Who benefits out of this?
Its a win-win situation for both the partners/firms and the government!

Its beneficial to partners/firms because it will help them sort out their registration mess. It will give them an opportunity to save themselves from drastic consequences for small defaults.

Its beneficial to government because it will generate additional revenue as fees! There are people who are not coming forward because of penalty, but they will see this as an opportunity and willingly pay some fees. Additionally, it will also help in updating the records of Registrar of firms. If the records are not proper, they are somewhat useless!

Will the government ever wake up to this need?

70 thoughts on “Amnesty scheme, Registrar of Firms”

  1. Yes. In addition to the stamp paper on which p’ship deed is made, you have to provide another stamp paper of Rs. 100.

    I hope I have clarified properly now.

    Regards.

    Ashish.

  2. hi Ashish,
    I already hav a stamp paper worth rs 500 on attached to the partnership deed. now do you want to say that i hav to provide an additional stamp paper of rs 100.

    Praneeti.

  3. Hi

    This is from one of my comments earlier

    1. Covering letter with a Rs. 5 court fees stamp
    2. Form A. It must be properly filled and notarised.
    3. Blank Stamp Paper of Rs. 20 for an extract.
    4. Certified Copy of Partnership Deed.
    5. Certified Marathi Translation of the Partnership Deed.

    CORRECTION:
    You need a stamp paper of Rs. 100 and not Rs. 20 now.
    You also need to provide a letter of authority to the person doing in on your behalf.

    Regards.

    Ashish.

  4. – Write a covering letter
    – Attach originals to it
    – Mention clearly in covering letter that originals are attached
    – Get an acknowledgment on covering letter

    Regards.

    Ashish.

  5. hi,
    ashish
    for dissolution procedure. papers that i will be sumitting to the rof for cancellation of registration

  6. Hi

    Office copy / original copy of what?

    I think you should always give all relevant papers with a covering letter and get an acknowledgment on your copy (i.e. office copy) of covering letter.

    If you have to file 10 papers, you can’t take acknowledgment on each. Covering letter is the way to go.

    Regards.

    Ashish.

    PS: Using all caps in emails / blogs / forums / websites is akin to shouting in real world.
    http://en.wikipedia.org/wiki/Netiquette

  7. HI,
    ASHISH,
    I WANTED TO ASK IF I HAV TO SUBMIT OFFICE COPY ALONG WITH ORIGINAL COPY TO THE ROF FOR CANCELLATION OF REGISTRATION .REPLY ASAP.
    PRANEETI.

  8. actually i hav jst started handling rof related matters. nd visiting the place is like a waste of time for me. so if i get a readymade soln then it saves more than half my energy and time. neway thanks. nice chattin wid u!

  9. Pre-test! So I was right. It was an interview :)

    When I am not sure about something like this, I take a “what if” approach.

    If notary is not required and I do it, I lose 30-40 bucks but they can’t reject the document.

    If notary is required and I don’t do it, I lose double time + double money.

  10. hi,
    no actually i was jst taking a pre test. before believeing u. dont take me wrong. bt i hav to do the dissolution procedure as soon as possible. therefore i do not hav time to go to the rof and find out. neway you were of great help. i am really sorry again.
    thanks :smile:
    praneeti

  11. Wow! I feel as if I am being interviewed for a job!

    Well, at max I can say that I am a partner in few firms and I am the one responsible in handling these matters for my firms.

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