Section 54 of the Indian Partnership Act, 1932 – Agreements in restraint of trade

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Section 54: Agreements in restraint of trade

Partners may, upon or in anticipation of the dissolution of the firm, make an agreement that some or all of them will not carry on a business similar to that of the firm within a specified period or within specified local limits; and notwithstanding anything contained in section 27 of the Indian Contract Act, 1872 (9 of 1872), such agreement shall be valid if the restrictions imposed are reasonable.

Source: official text of The Indian Partnership Act, 1932 as published on India Code (PDF). All sections of the Indian Partnership Act, 1932.

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