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partnership

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 August 2010 In case of partnership consisting two partners. If one partner retires then will the bank account be closed? Pls suggest.

Are we require to open new account?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
09 August 2010 Change the signatory details in the bank account.

No need to open a new bank account.
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Querist : Anonymous

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Querist : Anonymous (Querist)
09 August 2010 if there is two partner after retirement of one it will not be partnership firm... in this case any formalities, Pls tell
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
09 August 2010 Then the old account will have to be closed and new account in the name of the proprietorship will have to be opened.

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