Agreement for take over of partnership
This query is : Resolved
04 February 2009
Does the agreement for take over of partnership need to be signed by all the partners or the major shareholders signature is enough.
Like there are 5 partners
having profit sharing ratio in the manner
partner a and b have 30% each tht is 60%
and partner c has 20%, partner d and e have 10% each tht is 20%.
Do we need the signature of all the partner or A and B are enough.
It is an existing partnership firm and the firm has registerd itself as a private limited company. all the partners hav signed all the MOA and AOA and it is incorporated with the registrar of companies.
All the partners share remain same in private limited comany also...
Like there are 5 partners
having profit sharing ratio in the manner
partner a and b have 30% each tht is 60%
and partner c has 20%, partner d and e have 10% each tht is 20%.
Do we need the signature of all the partner or A and B are enough.
It is an existing partnership firm and the firm has registerd itself as a private limited company. all the partners hav signed all the MOA and AOA and it is incorporated with the registrar of companies.
All the partners share remain same in private limited comany also...
CA. B.SRINIVASULU
(Expert)
04 February 2009
It should be signed by all the partners.
If you want any particular person can sign on behalf of the partnership then each partner has to give irrevocable power of attorney and you can insist that power of attorney holder can sign.
Compulsorily all the partners should sign. Beacause the total business is being sold.
If you want any particular person can sign on behalf of the partnership then each partner has to give irrevocable power of attorney and you can insist that power of attorney holder can sign.
Compulsorily all the partners should sign. Beacause the total business is being sold.
CA. B.SRINIVASULU
(Expert)
04 February 2009
Even though a private limited company is formed it is a new venture. For the firm all the partners has to compulsorily sign.
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