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Partnership details

sudeep (Partner) (32 Points)

28 January 2013

Dear Frnds,

What should one has to do when a partner leaves a partnership firm. what are all the effective changes one has to make?

Regards

sudeeP

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1 Replies

Giridhar S Karandikar (Team Lead) (7548 Points)
Replied 28 January 2013

Pleae do the following:

1]. A change in the constitution of the firm is requried to be made by making an application to the ROF in the prescribed form. A revised P'ship deed shud be made contaiting the details of the partner who retired, the existing partners their PSR, capital contribution etc..

2]. submit the notarized copy to the ROF and get ti registered.

3]. Intimate the change to the Debtors/Creditors.

4]. Make the necessary updates in the Bank Setails. Inform the bank about the authorized signatories.