Partnership law amendments clarify insolvency-related changes to the Indian Partnership Act under the First Schedule. Section 245 mandates that the Indian Partnership Act, 1932 is to be amended in the manner set out in the First Schedule, operating as an enabling provision within the Insolvency and Bankruptcy Code framework that designates the First Schedule as the instrument specifying the textual alterations to the Partnership Act.
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Provisions expressly mentioned in the judgment/order text.
Partnership law amendments clarify insolvency-related changes to the Indian Partnership Act under the First Schedule.
Section 245 mandates that the Indian Partnership Act, 1932 is to be amended in the manner set out in the First Schedule, operating as an enabling provision within the Insolvency and Bankruptcy Code framework that designates the First Schedule as the instrument specifying the textual alterations to the Partnership Act.
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