Procedures/Guidelines to Expel a Partner from Registerd Firm

Afterfiling the removal of partner from the firm before the Registrar, you can issue the Paper public notice.  It is only for precaution not mandatory.  You need not go for Gazzette publication.

Dear Mr. Lankareddy,

Thanks a lot for your immediate respond.

Since Partners 'A' & 'B' are awaiting a repsonse from DR (Distrct Registrar) of Firms regarding the Expulsion / Removal of Partner 'C', is that been advisable now to give the paper public notice or they need to wait for the approval from Registrar of Firms. How we can go forward on this? Pls let me know in detail.

Is that been sufficient to give the Public Notice by the other two continuing partners 'A' & 'B' (or) it has to be given only by an Advocate. Kindly advise.

Thanks, once again!

It is better to wait til the approval of Registrar. You can advice them they need not go Advocate for giving caution notice to the public in paper. It is their option. Going throgh Advocate/Professional certainly adds the value.

Thanks.

Thanks a ton for your immd respond!

Please guide us following

We are 7 Chartered accountants in the firm as partners.As 7th partner who is sincere most donot cooprate with other partners and donot want to leave the firm freeze all bank accounts of firm

Now can 6 partners can expel him by filling demerger of his firm in ICAI or what is the procedure of expel him.He is unjustified expoiltes all the partners taking benefit of minority and say it is gang raped.

He black listed by saying that he can do anything worse to other partners

Please reply as per ICAI rules what 6 partners can do and how bank accounts can be freezed or not by banks

Thanking You

Gupta.S

9257359000

@ Mr. Siva, as section 33 of the Indian Partnership Act, 1932 majority of the partners cannot expel a partner unless the  terms of expulsion is provided in the partnership firm.

A firm may dissolved instead.

Suppose if the firm is unregistered. And a partner is ready to quit the firm. What is the procedure to remove him? What agreement he should sign?

Write a deed of retirement. The consent of the retiring partner shall be free otherwise the retirement deed will be void.

Since the partners are not taking recourse to a court of law, the non-registration of the partnership deed does not make any difference.

Ok thank you sir.

If there is only two partners in the firm where one gets retired Will the firm automatically gets dissolved Or we can add a new partner? For adding a new partner what shall be the procedure?

Partnership is a mutual understanding between partners. If there are only two partners, how one partner alone can take a decision to retire? If both the partners agree, the firm may be dissolved or a new partner may be admitted first and the partner wishing to retire can do so. Otherwise there is no meaning in partnership business.

Mr. Murthy in this forum only advice or direction can be given and not the entire work. Consult with any expert for the procedure.

Please suggest me what is the procesure to removie a partner from a regestred partnership firm. which  the partnership firmed with two partners. just let me know the process

Regards,

Reddy.