DEED OF RELINQUISHMENT BY A PARTNER IN FAVOUR OF ANOTHER PAR

DC OSTWAL (Querist) 26 June 2010 This query is : Resolved
ON E OF MY CLIENT IS A FIRM HAVING 10 PARTNERS . THE BUSINESS OF FIRM HAS BEEN CLOSED. THE FIRM HAS A AGRICULTURAL LAND OF RS, 1 CRORE (mv). SOME OF PARTNERS ARE DIED BUT NO NEW DEED IS PREPARED. ONE PARTNER WANTS TO SALE HIS PORTION OF LAND TO ANOTHER PARTNER AND AFTER THAT ALL THE PARTNER WILL SELL THE AG.LAND THROUGH FIRM. I WNT TO PREPARE A RELINQUISHMENT DEED. SO PLEASE GIVE ME SPECIMAN COPY INWHICH SELLER RELINQUISH HIS SHARE SO AFTER SELL HE HAS NO PROBLEM,

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DEFENSE ADVOCATE.-firmaction@g (Expert) 26 June 2010
You have to dissolve the partnership firm take accounts and make fresh partnership deed showing expired partners as creditors. No other easy solution.

adv. rajeev ( rajoo ) (Expert) 26 June 2010
I agree with Shashikumar Sir,

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