Removal partners from existing company

Managing Partner

Hello Sir / Madam,

Warm wishes.

My 3 friends and I started a firm with all proper registrations and signed the partnership deed, opened new bank a/c in firm name, but only i invested money.

My Partners aren't interested anymore as they are not ready to struggle.

But i don't want to put an end to the firm.

I would like to know how to remove these three people and add any of my family person as a partner and keep the firm alive?

Kindly let me know the procedures. Looking forward from you.

Regards,

Siddharth

 
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You have to make a Reconstitution of Partnership deed and in that you have to indicate your friends as retiring partners and make your family member as incoming partner.  Approach an Advocate / CA to draft the deed and make it registered with the registrar of firms in your territory.  The process is very simple.

 
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Lawyer in Hyderabad.Email:ramachary64@gmail.com

The deed can also term as "Deed of retirment,admission and reconstituition" .Here  you can add more clauses as needed.

 
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