Legal Question in Business Law in India

Partnership
Dear sir,
there is a company having 2 partners and they are maintaining joint account,1 partner died and there is some credit amount in account.The wife of dead partner comes as a new partner in the company and new deed makes,than what are the process for this.And the wife of dead parner have 2 minor childrens.
Pls advise.
Thanks

Asked on 3/06/09, 10:31 am

4 Answers from Attorneys

Pranav Desai PD Legal & Associates

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Re: Partnership

Your query is incomplete. Please write the detail issue on which you require are advice.

Answered on 3/08/09, 12:32 pm

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Rohini Kumar Tenneti R.K.1080 LEGAL SERVICES

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Re: Partnership

You have to extinguish the old partnership deed and make a new deed with the deseased partner's wife as a new entrant and submit the new deed to the bank and make changes in the joint account.It is upto you whether to admit minors for the profits or not.

Answered on 3/06/09, 10:53 am

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Sudershan Goel India Law Offices of Sudershan Goel - Advocate

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Re: Partnership

Your statement is incomplete.

Once the wife of deceased partner has joined the firm, the business may continue as usual. She may be substituted for her husband and her signatures may be provided to the Bank for operation of account.

Answered on 3/06/09, 11:45 am

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