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Dissolution of partnership firm

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This query is : Resolved

Ashim kr Ray (Querist)
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19 November 2019 Sir,
Partners of partnership firm want to dissolve firm.And want to create Proprietorship firm now.

I want to know what are the formalities have to be followed. one of the partner want to retain the same name of the partnership firm in his proprietorship firm,is it possible. whether dissolution of partnership deed has to be created.
Please guide.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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20 November 2019 Yes partnership dissolution deed needs to be written on a stamp paper of appropriate value and duly notarized.if GST number was also taken it should be cancelled after dissolution deed.

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Ashim kr Ray

Ashim kr Ray (Querist)
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20 November 2019 Sir,
Can a partner of that firm can put the same name to his shop which he own in proprietorship. And what about the treatment of remaining stock after dissolution of firm.

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