Question

X and Y are partners in a firm having no partnership deed. X and Y have contributed

Rs.500000 and Rs.800000 respectively as capitals. Y claims interest @ 6% p.a. on excess

capital of Rs.300000. X does not want to give any interest. State giving reason who is correct

in this case ​

Answer 1

Answer:

Ans.

X is correct

because in the absence of partnership deed or in the silence of partnership ship on interest of capital's then no capital interest shuld be given . according to companies act 1932 no, interest should be given to the partner of firm.

Answer 2

X is correct

because in the absence aap partnership