What happens when one partner leaves a partnership?
This query is : Resolved
CA Ankur Agarwal
(Querist)
03 April 2017
Kindly elaborate as to what happens when one out of 4 partner leaves the partnership.
What should the remaining partners do immediately?
Does the partnership remains or dissolves?
Kindly advise.
What should the remaining partners do immediately?
Does the partnership remains or dissolves?
Kindly advise.
CA PRAVEEN SINGHAL
(Expert)
03 April 2017
It will depend upon the terms decided and mutually agreed between partners through partnership deed.
But if partnership deed is silent then the firm will be dissolved.
But if partnership deed is silent then the firm will be dissolved.
03 April 2017
The clauses of the partnership deed determines the fate of the firm upon the leaving of a partner.
CA Ankur Agarwal
(Querist)
04 April 2017
What are the remedies available to the remaining partners who wish to continue?
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