Effect of Non-Registration: Jaiib/DBF Paper 3 (Module D),Unit-15

Effect of Non-Registration: Jaiib/DBF Paper 3 (Module D), Unit-15

Dear bankers,

As we all know that is Effect of Non-Registration for JAIIB Exam. JAIIB exam conducted twice in a year. So, here we are Effect of Non-Registration (Unit-15), Commercial Laws with Reference to Banking Operations (Module D), Legal & Regulatory Aspects of Banking -Paper 3.

♦Effect of Non-Registration

A company is compulsorily required to be incorporated and registered with the Registrar of Companies under the Companies Act, 1956 (Now ICA 2013). However, a partnership firm is not required to be compulsorily registered with the Registrar of Partnership Firms.


  • The partner’s may or may not enter into a partnership deed and may decide to have an oral partnership if they have a strong understanding amongst themselves.
  • Even if a partnership deed is entered into by the partners they may not opt for registration of the partnership firm.

 The provisions of the Section 69 are briefly stated hereunder:

  • A partner of an unregistered firm cannot enforce by way of a suit, any right available to him under the Partnership Act or a right conferred by a contract amongst the partners against the partnership firm or any partner thereof.
  • Similarly an unregistered firm cannot enforce by way of a suit, any right arising by a contract against any third party.
  • Due to the provision which is stated in the Section 69, a majority of the partnership firms decide to register the firm to avoid future hassles and complexities on solving issues amongst the partners as well as with third parties.

Read on APP

Telegram Group:- Click Here

Jaiib/DBF Paper Mock Link

JAIIB/DBF Paper-I (Principle and Practices of Banking) Online Mock Tests

Click Here (900+ Questions) 299/-Only

JAIIB/DBF Paper-II (Accounting & Financial for Bankers) Online Mock Tests

Click Here  (850+ Questions) 299/-only

JAIIB/DBF Paper-3 (Legal and Regulatory Aspects of Banking) Online Mock Tests

Click Here  (850+ Questions) 299/-only


Click Here (2600+ Questions) 699/-only

Jaiib Study Material PDF

Read More Jaiib/DBF Study Material (Unit wise)

Attempt Jaiib/DBF Quiz test (Unit- Wise)


Leave a Reply