Partnership deed
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 July 2017
Hello Sir,
Please give me explanation on this
There are three partners in Firm out of that two partners are retiring on the same date. Can the single partner can continue the firm as continuing partner or not. What is the reconstitution of deed format for this case.
Please help me on this
Please give me explanation on this
There are three partners in Firm out of that two partners are retiring on the same date. Can the single partner can continue the firm as continuing partner or not. What is the reconstitution of deed format for this case.
Please help me on this
CA Abhishek Goyal
(Expert)
05 July 2017
No, Single Partner can not continue as a partner. Dissolution Deed has to be prepared and put one clause in it that "hereinafter remaining partner will continue the firm name as proprietary firm".
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