Rights in partnership firm

Ashutosh (Querist) 21 September 2017 This query is : Resolved
If in registered partnership firm all the existing partners are being retired and in place the new partners are being admitted into the firm by only registering new partnership deed with registrar, does all the immovable & movable assets being registered/purchased in the name of firm will continue to in the name of partnership firm?

And is the ownership rights of the assets will be in hands of new partners admitted or the retiring partners have any right to claim on same?

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Adv. Yogen Kakade (Expert) 21 September 2017
The specific clauses mentioned in the partnership deed need to be seen before giving an opinion.

Rajendra K Goyal (Expert) 21 September 2017
How are you concerned / related with the query?

Looks like examination problem.

Ashutosh (Querist) 22 September 2017
Sir, I am concerned with the new partners enters into the partnership firm.

Guest (Expert) 22 September 2017
You have not mentioned whether you have already entered in to an agreement with the new partners or not.

Dr J C Vashista (Expert) 22 September 2017
The partnership (registered earlier) came to an end when the partner(s) retire vis-a-vis new partnership is afresh and new; which is not concerned with the closed one, in any manner.
I fully agree with expert opinion/observation/analyses of Mr. Rajendra K Goyal prima facie it is an examination hall question paper.

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