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How to dissolve a partnership firm if one partner is not ready
08-May-2023 (In Corporate Law)
Hello, We are five partners in the business in that two partners(husband & wife) are left the company before one year and rest three partners are agreed to dissolve the firm and informed to the two partners also, but that two partners are not agreed to dissolve the firm, Is any possible ways to close the firm without the two partners involvement. (The firm is GST registered) Kindly answer as soon as possible. Thank you.
The dissolution of the partnership firm will be as per the contents of the Partnership deed. The Partnership deed will contain a clause on the winding up and termination of the Partnership.
In the event the procedure cannot be complied with, an order from the National Company Law Tribunal will have to be obtained.
In the event the procedure cannot be complied with, an order from the National Company Law Tribunal will have to be obtained.
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Adv. Akshay Ubale
Mumbai | 100+ Answers
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It can be dissolved by giving the legal notice to the remaining partners of the firm to retired. If any monitory liability or settlement arises due to the clause and terms of the partnership, then until the settlement of the same it cannot be dissolved. One notice has to be submitted to the registrar of firm by the party who is intending to retired.
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Adv. Rajesh K.S
Bangalore | 500+ Answers
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