Dissolve partnership
Querist : Anonymous
author : Break Water
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Posted about 9 hours ago
Hi,
We have started the partnership firm (including me and other one) in 2010 and did the below process as of now.
1. We have prepared the partnership contract details on stamp paper and for the same we did the notary (included our firm's name).
2. Registered our firms name and address with local town’s municipality.
3. Procured the CST/GST number on basis of above document.
4. Procured PAN number of our firm.
5. Opened current account with nationalized bank of our firm.
As my other partner is not doing much activity so I want to remove him and include other but I want to keep the firm name same as it is as well as CST/GST number, PAN Number and bank account.
For your information, we have not registered the partnership firm with registrar office and with district industrial center (as SME or SSI unit). But now we are looking for those processes also.
Currently the firm is not started full fledged.
Your advice would be much appreciated.
Thanks.
If there are only two partners and one retires firm will stand dissolved.
Regarding registration of firm the provisions differs state wise.
If there are only two partners an one is asked toretire then the status of the firm will change from partnership into proprietorship. Then you will have to apply for registration again by cancelling/surrendering th old RC under VAT and cST Acts....MJK
Querist : Anonymous
I had talk with my current partner and he is ready to leave. So now here, what process I need to do to remove him and include other two as partner.
As mentioned earlier that, I want to keep all the existing procured PAN, VAT, firm name and website.
Is it mandatory to register partnership firm with regional registrar. If yes, then what are the benefits for the same.
2. Reconstitution deed for withdrawal of your current partner.
3.Intimate the changes to all the concerned departments.
CST, GST and PAN No. will not change.
registration under Indian Partnership Act is necessary for Civil court matter.
You have to file registration application form again,with photos of new partners,their address,signature etc.
MJK
Querist : Anonymous
For your information, we have not registered the partnership firm with registrar office and with district industrial center (as SME or SSI unit).
So now what I understand for your advise is that I have to follow below steps.
1. Prepare a legal document which includes removing the current partner (it is not registered with registrar).
2. Prepare a legal document which includes adding new two partner.
3. Register the partnership firm with registrar.
4. Inform to PAN and VAT departments including Bank regarding the same.
Please correct if I am going in different direction.
Thanks.
Querist : Anonymous
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