bank
5 years ago
we were were two patner in a patnership firm and open a bank account of the firm .after that one patner is added and now we were three patner but in bank account we did not update the deed. now one of old two patners is expired. in bank what documents will be required for updating the new deed ? is death certificate will be required ?
Ambrose Leo
Responded 5 years ago
Deepak Yashwantrao Bade
Responded 5 years ago
sistla ramakrishna
Responded 5 years ago
Whether your partnership firm is a registered one or not. If not you must inform the banking authorities to add another partner name. Who has authority to operate bank account?. He should inform the bank about change of constitution of firm. If it is a registered firm you should inform the same to Registrar of Firms by submitting the new partnership deed and publish the same in a local news dailies as per directions of Registrar and inform the same to your customers and stake holders. you should inform the death of one of the partners to the bank authorities and public separately if it is a unregistered firm and if it is a registered firm then you should comply with the directions of Registrar of Firms. You should take expert advice of experienced advocates and chartered accounts.
Anonymous
Replied 5 years ago
sir it was a register firm . now other partner out of old two changed the patnership deed , involve third person and submit it into bank without giving information about the death of patner . deceased family is unknown about this process .and bank is not asking about the deceased person . is this right or any legel action can be taken against this ?
sistla ramakrishna
Replied 5 years ago
Dear Client,
Your registered partnership deed should clearly specify the terms and conditions of joining of new partner and death or retirement of existing partner. You should perform certain formalities like making awareness of retirement or death of existing partner and joining of new partner to Registrar of Firms and giving public notice in a local daily where the stake holders reside etc., Equally important that if there is any clause in your partnership deed about making knowing about joining, retirement or death of partner to the bank etc., You should perform the same according to the terms and conditions of partnership deed as stated in the Indian Partnerhship Act.
Rajender Prasad
Responded 5 years ago
Anonymous
Replied 5 years ago
sir .jo pahle patner me se ek hai usne ek new patner k sath new deed ready kr li h and bank me submit bhi kr di h . bank ko deceased person k bare m nahi pta h na hi patner ne inform kiya h unko . kya is tara bank account operate krna legel h ? inke against kya legal action liya ja sakta h ? ya deed change krane pr bank purane patner k baare m pta nahi karti h ?
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