Dissolution of a partnership firm

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 February 2012 In a Partnership firm, 3 partners are there and can one partner dissolve the firm intentionally? (The other 2 partners are not unsound person, they are not doing any illegal work and their is no any insolvency of partners)

CA Nagesh Diddi

CA Nagesh Diddi (Expert)
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17 February 2012 hello,
if there is a provision has been made in partnership deed that on retirement of one partner, the other partners can continue the firm then they can continue the existing firm by amending the deed accordingly, otherwise remaining partners have to dissolve the existing firm and establish a new partnership firm by constituting a new partnership deed.