16 December 2013
Hi, In a registered Partnership Firm A & B are the Partners. Partnership has been created under 'At Will' and 'A' being the Active Partner(authorised signatory). The Partner 'B' is not committed to his work as he himself engaged with other businesses and his code of conduct is not good.
Here, with regard i want to know is their any way to make this partnership a proprietorship or change partner B to some'C. What can i do?
Appreciate your immediate respond. Thanks in advance!
19 December 2013
yes you can do that.. dissolve partnership.... and so it turns itself to soleproprietorship if one of partner runs the business... complete all the formalitites of dissolving of partnership....
28 December 2013
Talk to that Partner for steping down from the partnership. If he refuses then give him legal notice and paper notification for his removal and then take some one else as a new partner or you can continue with the firm as a proprietor
CAclubindia
