Partnership

Dear Sir,



I am a qualified Chartered Accountant and my friend is also a qualified chartered accountant but he joined as a partner with some existing partnership firm. Now after 2 years he want to come out from the firm and sent his resignation letter through registered post to Managing Partner 45 days before (i.e. 17-05-2011) after 2 hours of continuing discussion with him. Till now they are not taken any action on that, more over they want a signature to empanel voulenterly to a Scheduled Bank for concurrent audit. He refused to sign as he already submitted his resignation letter and request to close the deed at the earliest.



He is now having the opportunities at Service Industries but waiting for reconstitution. They made the empanel as the partner not available because of illness.



He wants to join in industry after getting the proper communication from ICAI i.e. reconstitute of the firm with the remaining partners, then want to surrender his COP.



But the Managing Partner is not respond to the matter and told with him proceed legally.





What are the grounds available to him to proceed.



As he send the same resignation letter to the ICAI along with postal acknowledgment due copy or surrender the COP with out bother whether closure deed is send to ICAI or not. Please suggest him to that, and they were not paid any thing to him as per their oral agreement.



I posted this quarry with the permission from him, as he is very afraid with this matter.



Please suggest, at the earliest.



Thanking You



Yours Truly



Srinivasa Rao E