Partnership firm

dharven (Querist) 09 March 2013 This query is : Resolved
if there are three partners in partnership firm and two partners who have 80 % holding in firm and they wish to complete debt of the firm by sell partnership property without third partner due to prevent of securisaziton act from bank so, they both partner can do it?

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Devajyoti Barman (Expert) 10 March 2013
They both or any of the two can always discharge debt keeping the other beyond its hold.
There is no hindrance for this.
There is no separate documentation needed for it.