Adnan Bashir Sahib,
It is a Firm established by two partners.
Is it firm or a privt lmted company ?
Asked on: 6/16/13, 7:46 pm
*** A Partnership Firm was established by two  friends who had obtained NTN & Sales Tax Number in the name of Firm. Now one of the partner is not interested in running the Firm as he is doing his personal business. The remaining only Partner wishes to continue Firm as NTN/Sales Tax # has already been obtained in the name of Firm. Now the question is that whether remaining partner can run this Firm while maintaining Bank account in the name of Firm by himself only. Is there any procedure to convert existing Partnership Firm into Proprietorship concern.
1 Answer from Attorneys
plz send a partnership deed into my email.. i will try to find out a solution... remember! at least two members are required to be partner. it is another issue that one could be sleeping partner. that too depends upon ur partnership deed ... plz send it to me. do not past your deed here , because it could be slipped or ignored from me.. send it to me my email below.
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