Dissolution of a partnership firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 February 2012
In a Partnership firm, 3 partners are there and can one partner dissolve the firm intentionally? (The other 2 partners are not unsound person, they are not doing any illegal work and their is no any insolvency of partners)
CA Nagesh Diddi
(Expert)
17 February 2012
hello,
if there is a provision has been made in partnership deed that on retirement of one partner, the other partners can continue the firm then they can continue the existing firm by amending the deed accordingly, otherwise remaining partners have to dissolve the existing firm and establish a new partnership firm by constituting a new partnership deed.
if there is a provision has been made in partnership deed that on retirement of one partner, the other partners can continue the firm then they can continue the existing firm by amending the deed accordingly, otherwise remaining partners have to dissolve the existing firm and establish a new partnership firm by constituting a new partnership deed.
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