Change in Partnership Constitution

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 March 2010 When A partner retires from the partnership what is the procedure.

Also whether a new deed of partnership firm is required..

Also whether the date of registration of partnership firm will change or not.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 March 2010 Depends on the concerned state registration act. However, generally when a partner retires, a retirement agreement (executed between all the partners) as well as a reconstituted partnership deed (executed between the remaining partners) may be executed.

Querist : Anonymous

Querist : Anonymous (Querist)

16 March 2010 Sir whether a new PAN card is required. What shall be the date of registration of the firm.

Querist : Anonymous

Querist : Anonymous (Querist)

16 March 2010 Sir Can u also provide the draft copy of both the deeds.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 March 2010 If the name of the firm is not changed, no need for a new PAN card. Format of the deed and agreement are available in www.vakilno1.com. Pl download and make suitable alterations according to your requirement.