Legal Question in Business Law in

If there are 4 partners in partnership firm. What is procedure to withdraw amount from firm's current account ? Is it necessary to appoint authorized signatory or is it mandatory to sign cheque of firm to withdraw amount by all the 4 partners ?


Asked on 9/02/10, 1:17 pm

3 Answers from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Should normally depend upon arrangements made by the firm with the Bank. If no arrangments exist, the four partners may pass an appropriate resolution.

Read more
Answered on 9/02/10, 8:24 pm
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

you can appoint an authorized signatory and the partners draw monthly salaries from the firm.

Read more
Answered on 9/03/10, 12:54 am
Vishwa Arya Arya & Co.

first of all that would depend upon the terms of the partnership deed

Read more
Answered on 9/03/10, 8:06 am


Related Questions & Answers

More Business Law questions and answers in