Admission of new partner and retirement of existing partner

[RAJI SACHIN]

Dear all,

 

A partnership firm have two partner A & B. They want admission of a new partner C and A wants to retire from the firm. Can a single supplementary  deed be made for admission of new partner and retirement of existing  partner.  Or firstly we have appoint for that a supplementary  deed will be made and then after few days retirement  of the said partner and again a supplementary  agreement. The Partnership firm is not registered.

Thanks & Regards,

Raji Sachin

[Itisha Ghorawat]

A single agreement is sufficient.

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[RAJI SACHIN]

Dear ma'am, 

Will it not lead to dissolution of partnership firm. Do we need to prepare fresh partnership deed in case of admission  of a new partner. 

Also please share sample deed for admission cum retirement 

Thanks & Regards, 

Raji Kumar

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[Itisha Ghorawat]

No it will not lead to any dissolution. 

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[Shubhank Mishra]

An only deed will be sufficient but the agreement will be executed between all three parties giving their consent to the proposed changes

With Warm Regards:

CS Shubhank Mishra

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[N. MR]

We need not do it separately. We can do this in one Partnership reconstitution agreement incorporating both admission and retirement.

Regards

NMR

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