Sir I have a query regarding admission and retirement of partners.
An existing partnership firm consisting of 2 partners. One of them want to retire and same day one new partner is admitting to partnership. Is it possible to have a single deed for admission, retirement and reconstruction. If so kindly send format of the deed.
Thanks & regards
You can use a single Deed of Admission-cum-Retirement to handle both the retirement of an old partner and the admission of a new one simultaneously. This document should formally capture the transfer of shares, the assumption of liabilities by the new partner, and the release of the retiring partner, followed by the necessary public notices and filings with the Registrar of Firms.
Varma Raja & Associates
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