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.
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.
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
Answered on 9/03/10, 8:06 am
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