Execution of partnership deed
This query is : Resolved
05 March 2014
As there is 2 partner in firm and 1 partner died in 2006 at that time no new deed was formed so is it become a proprioter and dosent need to execute partnership deed ...?
or dissolution deed need to be formed ?
as no deed is formed at that time is it valid to form now???
05 March 2014
when partner dies there is no need to make any dissoultion deed as there is only 1 person as owner but u need to inform the registrar if it was registered with registrar of firms.
05 March 2014
please refer Supreme Court judgment in case of Mohd Laiquiddin v Kamala Devi Misra (deceased) wherein it was ruled that death of a partner in TWO-Partner firm results in automatic dissolution.
please refer http://www.internationallawoffice.com/newsletters/detail.aspx?g=c7f62275-2158-4736-b3c3-1710bc1f1a81
please refer http://www.internationallawoffice.com/newsletters/detail.aspx?g=c7f62275-2158-4736-b3c3-1710bc1f1a81
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