Addition and deletion of partners in a partnehsip firm

In a registered partnership firm, there are two existing partners. They want to sell that firm to group of five other persons, as they no longer want to continue this business. Now, is it possible that both the existing partners go out of the firm and the new five partners come in into the firm on the same day?
Whether this firm will stand valid as the NAME and the MAIN OBJECT of the firm will not change?

practicing advocate

First the five new partners must enter the existing partnership firm and after that old two partners has to retire.  For this partnership has to be made.


Thank You Sir.




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