Partnership firm amendment or dissolution

  Hello sir,

Greetings of the day.

We having partnership firm contain two partners i.e Son (X) and Father (Y).

Recently Y passed away. For all banking transactions Y was only authorized person.

We explained to bank officials all these regards and then bank manager asked us to take death certificate and legal hier certificate.

in this matter we planned that introduce Y's wife as nominee. so that we planning to ammend the deed.

So, please kindly inform that whether we have to ammend the deed or dessolute the firm.

Kindly help us.

Thanking you

 

Replies (1)

Hi,

You have to dissloute the firm . Introduction of new partner wont servce the purpose as it wont give the retrospective power to the new partner for authorising banking transactions. unless you had already mentioned about this nominee introduction in initial partnership deed.

 

Thanks,

Suri 

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