Transfer of plot
RAJESH KUMAR
(Querist) 11 December 2013
This query is : Resolved
Sir,
A industrial plot was allotted to a partnership M/s S. M. Papers Product with partners (i) Sham Lal 50% and (ii) Randhir Singh 50% by the Authority and conveyance deed was executed in favour of said partnership firm. Thereafter one of the partner Sh. Sham Lal has retired from partnership and a retirement-cum-dissolution deed was executed, the retiring partner transferred all his rights in favour of the remaining partner i.e. Randhir Singh resulting the remaining partner become the absolute owner of 100% share in the partnership firm.
Consequent upon dissolution of firm, Sh. Randhir Singh informed the Authority that he has promoted a proprietorship firm in name & style of M/s S. M. Papers Products and requested the Authority to change the constitution from Partnership to Proprietorship firm.
Now the question is arise that:
1 Authority can allowed change in constitution in favour of Proprietorship firm (from Partnership to Proprietership firm the name )
2. A Sale deed is required in favour of M/s S. M. Papers Products (Proprietorship firm) through M/s S. M. Papers Products (partnership firm)
3. Or suggest any other procedure for transfer of plot in favour of proprietorship M/s S. M. Papers Products Prop. Sh. Randhir Singh
krishna mohan
(Expert) 11 December 2013
Is the plot registered as a Sale Deed and if so in whose favour?
Rajendra K Goyal
(Expert) 11 December 2013
If the plot was registered in the name of the firm, due to the change of constitution of the firm the plot rest with the new firm provided specifically mentioned in the dissolution deed. If it was in the name of partners of the firm the position may differ. Registration document need to be seen. Contact local lawyer.
Raj Kumar Makkad
(Expert) 12 December 2013
Submit reply against the wise query raised by expert Mohan.
RAJESH KUMAR
(Querist) 13 December 2013
The Conveyance Deed of the plot was registered in favour of partnership firm i.e.M/s S. M. Papers Product
