Partner retirement

Ashish Ranjan (Chartered Accountant in Practice)   (188 Points)

21 August 2017  

Can a partner in a partnership firm of 2 partners continue the partnership firm after the retirement of one of the partners (resulting in him being the only partner left) continue the partnership firm so as to add a new partner a later date? If yes, is there any restriction as to the time frame within which he must bring in the new partner?