Indian Partnership Act, 1932 · Chapter VI: Dissolution of A Firm
Section 46: Right of partners to have business wound up after dissolution
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.
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 46
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Rahul Verma & Ors. v. Rampat Lal Verma & Ors.
Issue arose whether the legal heirs of a deceased partner in a partnership firm, being non-signatories to the partnership deed and in the absence of their explicit consent, can still be bound by the arbitration…
- Ravi Prakash Goel v. Chandra Prakash Goel and Anr.
- S.V. Chandra Pandian and Ors. v. S.V. Sivalinga Nadar and Ors.
- Prem Ballabh Khulbe v. Mathura Datt Bhatt