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of <h1>Firm Dissolution Under Indian Partnership Act: Unlawful Event Triggers, Insolvency Clause Removed by 2016 Code</h1> A firm is subject to compulsory dissolution under the Indian Partnership Act, 1932, if an event occurs that renders the business or the partnership unlawful. However, if the firm engages in multiple separate ventures, the illegality of one or more does not automatically dissolve the firm concerning its lawful activities. The provision previously included dissolution by adjudication of insolvency for all partners, which was omitted by the Insolvency and Bankruptcy Code, 2016.
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