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Procedure for partnership firm dissolution
25-Nov-2023 (In Corporate Law)
I have made a partnership firm with my brother 3 years ago .But i have never applied for the pan of the firm and no business or bank account in the name of the firm has been done .i just have the deed so i want to close the firm .please help
If a partnership deed is made and is registered before the IGR, then there is a proper procedure for cancelling the same. The same is to be cancelled in prescribed form with prescribed fees - which should accompany a dissolution agreement amongst the partners, gazettee notification and paper publication(both in english and vernacular language) for public & general information. After receipt of the application the authority will cancel the same.
But, if same is neither registered/executed then nothing has to be done as per the law, as because a deed if not registered or executed is not enforceable
But, if same is neither registered/executed then nothing has to be done as per the law, as because a deed if not registered or executed is not enforceable
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Adv. Mukesh Agarwal
Cuttack | 25+ Answers
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