ONE OF MY FRIEND RUN A PARTNERSHIP FIRM FROM PAST 10 YEARS. PARTNERS OF THE FIRM ARE HIS MOTHER AND HIS BROHTER AND HIM. NOW HE WANTS DISSOLUTE HIS FIRM. BUT THE PROBLEM IS THERE IS NO CASH BALANCE AND BANK BALANCE ENOUGH TO REPAY THE PARTNERS CURRENT ACCOUNT AND CAPITAL ACCOUNT BALANCE. NEARLY HE NEEDS MORE THAN MEANS EACH PARTNER SHARE 6,75000/- EACH TOTAL 2025000/-. AND CURRENT ACCOUNT BALANCE NEARLY 1300000/- SO HIS BUSINESS SALES NOT ENOUGH TO MEET THE REPAYMENT OF PARTNERS SHARE. NOW HOW TO RESOLVE THIS PROBLEM. ALL PARTNERS ARE MEMBERS OF FIRM AND WILL NOT CREATE OR RISE ANY DISPUTE IN THE MATTER OF HIS SHARE OF INVESTMENTS IN THE FIRM.
PLEASE I NEED YOUR VALUABLE GUIDENCE TO RESOLVE THE PROBLEM
CAclubindia
