sukhvinder chawla 03 October 2018

Retiring deed and immovable properties

Retiring deed is made to sign in 2010 of a registered partnership firm from a widow of the partner, partners between real brothers since inception. capital account is adjusted in 2010, but immovable properties not accounted since business is going on. Now 2016 , key partner expires and his will gives all 90% properties to his daughters and rest 10% to widow family. No valuation done or Bonafide division done. Daughters don't respond either. retiring deed which was executed also not give to the widow family. Advice needed.

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kavksatyanarayana (subregistrar/supdt.(retired)) 03 October 2018

As per your query, it is understable that two brother did partnership business. But by whom the retiring deed was executed and who inducted as a new partner in the place of retired person? Key partner expires, what is the status of the firm business.

sukhvinder chawla 03 October 2018

retiring deed was executed by key person let's say Mr A and Mr A added her daughter in lieu of the retiring Partner. Mr A inducted ms p ( daughter). current status business is stopped , Machinery sold and premises is given in rent. Dissolution is not yet done .