partnership act


Dear Friends,

My firm is a partnership firm where I hold 95% stake and my partner holds 5% stake. 

Recently somebody informed me that in this scenario, as per the Indian Partnership Act, if my partner resignes, the agreement will be considered null and void and the firm will be dissolved. Is that true?

Please help me with the query.

Regards

Indranil Choudhury

 
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practicing advocate

Yes if any of the partner resigns partnership will come to end.

 
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