Partnership Firm
Purvi
(Querist) 08 August 2010
This query is : Resolved
Hello,
We have partnership firm to manufacture plast dies. My father and my uncle was partner. Company has 50-50 partnership. in 2005, my father had sudden death and my mother took 50% of partner ship. in 2006, my uncle has heart attack and my aunt took share of 50%. Every partnership deed is on 100 Rs stamp paper and non-registered.
We have small factory in Ahmedabad and i am ready to pay for them 50% share and to make 100% ownership.
My query:
1. Can i make dissolution deed on 100 Rs stamp paper?
2. I need to register it?
3. What can i do to transfer the industrial shade on my name?
4. Are you have any standard dissolution deed?
Thanks,
Purvi
Devajyoti Barman
(Expert) 08 August 2010
The dissolution does not compulsorily require registration. Though you could take your aunt's 50% share but thereafter it would loose the character of partnership firm. As the factory is a immovable property you have to register the deed of transfer for that half share of the factory shade by way of sale or gift.
Purvi
(Querist) 08 August 2010
Thanks for your feedback. My advocate told me to make MOU + Dissolution deed and show all the figures inside MOU. MOU show my right immovable property. Is it still need to register?
Devajyoti Barman
(Expert) 08 August 2010
MOU does not create any binding relation between the parties. It is merely an agreement in principle which is required to be completed by an appropriate deed. In your case I do not think executing a MOU would be of any help.
DEFENSE ADVOCATE.-firmaction@g
(Expert) 14 August 2010
Every partneship and dissolution deed has to be registered with the registrar of firms.
Now you can make a final dissolution deed and register with ragistrar of firms so that the name of partnership firm will be deleted from records.
Before making the final dissolution deed inspect the records and make the deed accordingly.
