Legal Question in Business Law in India
we are three brothers, partners in a partnership firm,two of us want to leave the firm and I alone wish to carry it on.Is it possible to run the same existing firm without dissolving just by changing its partnership deed.The firm is not registered with the Firm Of Registrar. Please reply
Asked on 5/12/10, 7:34 am
1 Answer from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
The firm will need to be first dissolved settling assets and liabilities of the outgoing partners; after that you may 'reconstitute' the firm in same name with you as surviving partner/prop.
Answered on 5/13/10, 9:47 pm
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