Legal Question in Business Law in India

sir, my name is trinadha, i am from vizag andhra pradesh. in 1971 my father and other three members formed and firm and excuted an deed how the run the firm and the conditions for how to run it.Till now its runing even though the four member who formed the firm were not alive.

1. The firm was not registered till now and its runing , the shares of the firm are four equal parts

2. The legal hireres of the four partners were runing the firm

3. Now three partners became a group leaving one member lonely who is now the manging partner on records for the firm .

4. The three members who formed as a group now saying that they are not interested in runing the firm and they want to dissovle the firm.

5. we the single member who is now the manging partner of the firm was not interested in dissolving the firm, as its started by elders and that to having a senitement .

Is there and way for us to stop the firm dissolving and to run .

thanking you


Asked on 3/21/12, 9:23 am

1 Answer from Attorneys
Stalin Selvamani S & P Law Associates

A partnership firm may be registered or unregistered. In case you unregistered firm you can put a dissolution of partnership agreement by dividing the shares, machineries, properties and assets belonging to the firm equally as mutually agreed and then can sign the same with appropriate sale. If required then it can even by registered in concerned sub registrar office.

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Answered on 3/21/12, 11:18 pm


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