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Query regarding partner retirement

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 August 2011 Query Regarding partner retirement :

If one of the Partner retires from the firm after 01.01.2011, what is the procedure to be followed at the time of (MEF) bank empanalment. Is the signature on declaration form or else where required in the form. As on the day retirement deed is yet be executed.
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U S Sharma

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U S Sharma (Expert)
05 August 2011 old bank account would get closed and a fresh bank account will get initiated.
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 August 2011 sir we are asking about bank empanelement for the year 2011
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Aashok Kumar Sharma

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Aashok Kumar Sharma (Expert)
19 July 2025 If the retirement deed is not executed yet, provide a declaration signed by all partners regarding the retirement and change in bank signatories.
The bank may accept this for empanelment purposes temporarily until the formal deed is executed.
Ensure that all continuing partners sign the empanelment form and declaration.
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