Rights of transferee of a partner ’s interest
Commencement. 1932-10-01 (except section 69) 1933-10-01
Section 29 of the Indian Partnership Act, 1932 deals with rights of transferee of a partner ’s interest. A transfer by a partner of his interest in the firm, either absolute or by mortgage, or by the creation by him of a charge on such interest, does not entitle the transferee, during the continuance of the firm, to interfere in the conduct of the business, or to require accounts, or to inspect the boo The Act was enacted on 08 Apr 1932.
(1) A transfer by a partner of his interest in the firm, either absolute or by mortgage, or by the creation by him of a charge on such interest, does not entitle the transferee, during the continuance of the firm, to interfere in the conduct of the business, or to require accounts, or to inspect the books of the firm, but entitles the transferee only to receive the share of profits of the transferring partner, and the transferee shall accept the account of profits agreed to by the partners.
(2) If the firm is dissolved or if the transferring partner ceases to be a partner, the transferee is entitled as against the remaining partners to receive the share of the assets of the firm to which the transferring partner is entitled, and, for the purpose of ascertaining that share, to an account as from the date of the dissolution.
Section 29, The Indian Partnership Act, 1932 (Act 9 of 1932).
Related judgements & precedents
These are some judgments that construed this section, and hold precedence value. They hold authority on how to read, interpret and use this section.
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Ravi Prakash Goel vs Chanra Prakash Goel
Court's Decision & Legal Precedent
Where an arbitration agreement is contained in a partnership deed and a dispute touching the affairs of the partnership firm has arisen during the lifetime of a partner, the legal representative of that deceased partner is entitled to invoke and enforce the arbitration clause, notwithstanding the death of the original partner. This right flows from Section 40 of the Arbitration and Conciliation Act, 1996, which mandates that arbitration agreements do not discharge upon death and remain enforceable by legal representatives, read harmoniously with Sections 46, 47, and 48 of the Indian Partnership Act, which preserve and enforce the rights of representatives to claim accounts and have the firm wound up. The arbitration clause survives the dissolution of the partnership and the death of a partner, and it is not necessary for the partnership deed to explicitly include heirs and legal representatives for this succession to apply, as such rights are governed by statute.
On this section: Rights of representatives of deceased partner; limited to claiming assets to which the deceased was entitled; the Court distinguished this from arbitration rights
The holding above is the ratio decidendi as extracted from the judgment by eCourts India, reproduced unaltered — it is a rendering of the court's reasoning, not a substitute for its words. Read the order itself before relying on it.
Questions about Section 29
What have the courts held on Section 29 of the Indian Partnership Act?
Ravi Prakash Goel vs Chanra Prakash Goel (21 Mar 2007) is the leading judgment on this section among those set out below: Rights of representatives of deceased partner; limited to claiming assets to which the deceased was entitled; the Court distinguished this from arbitration rights.
How do I find court cases under Section 29 of the Indian Partnership Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Partnership Act 29, section 29 Partnership Act, section 29 of the Indian Partnership Act. People searching for it also type indian partnership act 1932 section 29. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome. 1 reported judgment on this section is set out on this page, beginning with Ravi Prakash Goel vs Chanra Prakash Goel (21 Mar 2007).
When was Section 29 of the Indian Partnership Act enacted?
Section 29 of the Indian Partnership Act, cited as Partnership Act 29, was enacted on 08 Apr 1932 as Act 9 of 1932. It is in force as at the date shown on this page.
Other sections of this Act
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 15 Oct 2026. This page is not a substitute for legal advice.