Mohan and Shyam are partners in a firm. Which statement among the below can be claimed valid if the Partnership Agreement is silent regarding the same.
Held on 30 May 2025 · Verified 13 Jul 2026.
Mohan is an active partner. He wants a salary of Rs. 10,000 per year.
Shyam had advanced a loan to the firm. He claims interest of @ 10% per annum.
Mohan contributed Rs. 20,000 and Shyam Rs. 50,000 as capital. Mohan wants an equal share in profits.
Shyam wants interest on capital to be credited @ 6% per annum.
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