How to dissolve partnership when dissolution clause not mentioned
31-Jul-2023 (In Corporate Law)
In a partner ship firm of 2 partners Pharmacy shop, (deed NOT registered but NOTARISED), One partner (5% holder) WHO WAS appointed to perform as Registered Pharmacist. He just came for few days & now not performing. He has already resigned from the post of registered pharmacist in FDA. He does not have a copy of the deed. Now not ready to sign dissolution, how to dissolve partnership? Dissolution clause not mentioned in deed.
You may send him a legal notice and inicate leagl course of action against your partner. And file a civil suit for removal of the current partner and appointment of a fresh partner In place of existing non-perfoming partner.
If your partner is not agreeing to dissolve and your partnership is not registered then you can just send your resignation letter to your partner and mention that your resigning with immediate effect and you will not be responsible for any action taken thereafter
Although it was a Notarised document, it has its own sanctity. The terms need to be gone through before giving any suggestions/solution. Did you have a dissolution clause? event upon which the Firm would stand dissolved?
1. First to Send notice for dissolution
Then suit to disolve.
2. Check whether Arbitration clause is there.
3. If there is a Arbitration clause, then no need to file suit. Send notice according to arbitration clause and dissolve the firm.
Then suit to disolve.
2. Check whether Arbitration clause is there.
3. If there is a Arbitration clause, then no need to file suit. Send notice according to arbitration clause and dissolve the firm.
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