THANGAVEL MURUGESHAN (PROPRIETOR) 03 June 2011
SINCE I SUFFERED HUGE LOSS I AM PLANNING TO GO FOR INSOLVENCY PETITION.
MY FIRM IS A PARTNERSHIP OF 4 , IF I AM RELEIVED OF THE PARTNERSHIP AND IF I FILE FOR INSOLVENCY PETITION WILL THE FIRM WILL BE AFFECTED?WILL THEY (OTHER PARTNERS)BE ABLE TO CONTINUE BUSINESS AS USUAL.
Amit Soni (Proprietor) 13 June 2011
This depends on the caluse of your partnership. Whether it contains the clause for continuing the business after retirement of Partner. Read your Partnership deed thoroughly.
Kwatra Corporate Advisors (Advocates) 19 June 2011
WE CAN ASSIST YOU ON THE SAME.
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