Partnership deed
4 months ago
I have registered partnership deed with two other person in jabalpur sub registrar office. Can i make cancellation deed or another partnership deed with some other terms and condition with same two person in gwalior sub registrar office
A.Dear client,
Yes you can cancel or rather go for dissolution of the registered partnership firm.
According to the Section 39 of Partnership Act, dissolution of partnership between all the partners of a firm is called dissolution of partnership firm.
It involves certain criterias and obligations, which you have to follow in order to get the cancellation done.
If all the partners are agreeing for such cancellation.
Notices have to be send.
Dissolution by agreement
Dissolution from court, etc. are the various liabilities.
Yes you can cancel or rather go for dissolution of the registered partnership firm.
According to the Section 39 of Partnership Act, dissolution of partnership between all the partners of a firm is called dissolution of partnership firm.
It involves certain criterias and obligations, which you have to follow in order to get the cancellation done.
If all the partners are agreeing for such cancellation.
Notices have to be send.
Dissolution by agreement
Dissolution from court, etc. are the various liabilities.
Helpful
Helpful
Share
A.Dear Client,
There is no concept of cancellation of a Deed of Partnership, instead following the terms of Deed of Partnership and the relevant provision of the Partnership Act, 1932, a partnership firm is dissolved with the consent of all the partners on execution of a Deed of Dissolution. Accordingly, for the change of any terms and conditions or addition of partners on the vacancy caused by the retirement or resignation of partners, a revised Deed of Partnership is made and executed by the partners. Neither The Partnership Act nor any court of law has recognized partnership firms as a person, hence no partnership firm can become a partner to another partnership firm. However, the partners of one partnership firm are allowed to become partners of other partnership firms. A partner can become a partner in multiple partnership firms as there are no restrictions according to law. But one must check the partnership deed in which he is already a partner whether such deed has any clause which restricts to becoming a partner in other partnership firms. Based on the different territorial jurisdictions, you have to make out a fresh Deed of Partnership with a different name of the firm and different terms and conditions that suit your purpose and the provisions of the Partnership Act, 1932 for registration with the Gwalior sub-registrar office.
There is no concept of cancellation of a Deed of Partnership, instead following the terms of Deed of Partnership and the relevant provision of the Partnership Act, 1932, a partnership firm is dissolved with the consent of all the partners on execution of a Deed of Dissolution. Accordingly, for the change of any terms and conditions or addition of partners on the vacancy caused by the retirement or resignation of partners, a revised Deed of Partnership is made and executed by the partners. Neither The Partnership Act nor any court of law has recognized partnership firms as a person, hence no partnership firm can become a partner to another partnership firm. However, the partners of one partnership firm are allowed to become partners of other partnership firms. A partner can become a partner in multiple partnership firms as there are no restrictions according to law. But one must check the partnership deed in which he is already a partner whether such deed has any clause which restricts to becoming a partner in other partnership firms. Based on the different territorial jurisdictions, you have to make out a fresh Deed of Partnership with a different name of the firm and different terms and conditions that suit your purpose and the provisions of the Partnership Act, 1932 for registration with the Gwalior sub-registrar office.
Helpful
Helpful
Share
A.Dear Client,
The ability to cancel or amend a partnership deed with the same individuals but under different terms and conditions may depend on the specific clauses outlined in your existing partnership deed and the relevant legal provisions. Generally, partnership deeds are registered documents, and making changes requires the consent of all partners involved. If the existing partnership deed includes provisions for its cancellation and the formation of a new partnership with modified terms, you may proceed accordingly. However, it's crucial to adhere to legal procedures and consult with a legal professional to ensure compliance with partnership laws. Additionally, the new partnership deed should be registered with the appropriate authority, in this case, the Gwalior sub registrar office, to make it legally valid. Seeking legal advice will provide clarity on the specific steps and requirements to undertake this process smoothly.
The ability to cancel or amend a partnership deed with the same individuals but under different terms and conditions may depend on the specific clauses outlined in your existing partnership deed and the relevant legal provisions. Generally, partnership deeds are registered documents, and making changes requires the consent of all partners involved. If the existing partnership deed includes provisions for its cancellation and the formation of a new partnership with modified terms, you may proceed accordingly. However, it's crucial to adhere to legal procedures and consult with a legal professional to ensure compliance with partnership laws. Additionally, the new partnership deed should be registered with the appropriate authority, in this case, the Gwalior sub registrar office, to make it legally valid. Seeking legal advice will provide clarity on the specific steps and requirements to undertake this process smoothly.
Helpful
Helpful
Share
Read Related Answers
Agreement related
Dear sir
You have to deal property matter very carefully otherwise if possession is given there will be no chances of getting back the property.
CREDIT CARD USE FOR BUSINESS EXPENSE
Dear client,
While it's technically possible to use your personal credit card to pay the electricity bill for your manufacturing firm, it's not generally advisable. Using personal funds or credit car...
PIP
Dear Client,
Unless a condition is stipulated in the contract of employment authorizing an employer to waive a notice period or pay in lieu of notice, you cannot waive a notice period of an employee w...
Marry help
Dear Client,
Marriage between a couple having a prohibited degree of relationship is illegal and void both under the Hindu Marriage Act, 1955 and the Special Marriage Act, 1954. There may, however, b...
Partnership
Dear Client,
A partnership firm may be discontinued with the approval of all the partners or by a contract between the partners. A partnership is formed by a contract and may be terminated using the c...
Read Blogs on Partnership
Partnership Lawyers
Find Lawyers by Location
