Dissolution of partnership

subrat (Querist) 06 July 2014 This query is : Resolved
I have a registered partnership firm with valid partnership deed and current account in Dehradun, Uttarakhand, India. My partner wants to leave the firm, whereas I want to continue the firm.

Plz guide

* How to dissolve his partnership?
* What stamp paper is required?
* Can it be done from any other state in India?
* Who all are required for any physical presence(if applicable)?
* Can I alone run a partnership firm(legally)?
* What about running Current-Account.

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Devajyoti Barman (Expert) 06 July 2014
Meet a local lawyer or a CA.
He will do all the needful.

Rajendra K Goyal (Expert) 07 July 2014
Consult local Lawyer or CA, he would look after all aspects. You alone can run the firm but for partnership min. two person are required.

ajay sethi (Expert) 07 July 2014
engage a local lawyer

Guest (Expert) 07 July 2014
- Make dissolution agreement and declare the firm to be a proprietory firm, if not substituted with another partner (may be a sleeping partner).

- Stamp duty depends upon the rates applicable in your state.

- Dissolution deed to be registered at the place where the firm exists or where the partnership deed was originally registered.

- Physical presence may not be compulsory. Your advocate can handle the issue.

- No.

- Current account need not be closed, if the name of the firm is not changed. Best way will be to get appropriate guidance from the concerned bank on the issue by submission of the dissolution deed and authorisation to operate from the other partner addressed to the bank.

T. Kalaiselvan, Advocate (Expert) 07 July 2014
I agree to the views and opinions of expert Mr. Dhingra on the subject issue. Nothing more to add except to state that do not be under pressure to take such decisions, you may make a call after giving a long thought about it.