Partnership deed

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 October 2014 a registered partnership deed was formed 3 years back having 3 partners. no work ws actually done.
but with the same name one partner is doing his business. nw other two r creating problem for him.
working partner wants the deed to be cancelled.

hw he can get the deed cancelled when other two r nt ready to sign.

CA VISHWAKEERTHI.P.S.

CA VISHWAKEERTHI.P.S. (Expert)
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04 October 2014 You are correct on this issue.

First of all partner/s don't have the right to run the business in same name as partnership firm had.

If done like so profit shall be distributed as agreed in partnership deed because its became the branch to the mother concern i.e., partnership firm.

and

Without all partners signatures firm can't be dissolved . When firm dissolved then dissolution deed shall be constructed and signed by the all the partners on mutual consent .

Required to intimate to register of firm regarding the dissolution within 30 days.

So without other signature it can not be dissolved as well as in the same name firm can't be run.

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