Overview of Dissolution of Firm

Dissolution of the firm means discontinuance of its activities. When the working of a firm is stopped and the assets are realised to pay various liabilities it amounts to dissolution of firm. Dissolution of a firm involves the complete breakdown of partnership relation. In the dissolution of partnership firm, the partners may by agreement provide for the continuance of the firm after its dissolution by death, lunacy or insolvency of any partner. A partnership firm may be discontinued or dissolved in any of the following ways. • Dissolution by Agreement • Dissolution by Notice • Dissolution due to contingencies • Compulsory Dissolution • Dissolution by Court

Documents Required for Dissolution of Firm?

  • PAN Card of Partners & Firm
  • Address Proof of firm
  • Partnership deed
  • Secured Creditors List
  • Financial Statements
  • Any Pending Litigations List

How To Register?

With basic identity documents, you can dissolve your partnership firm. We help you dissolving a Partnership firm in four simple steps- Step 1:-Fill the form and attach the scan copy of your documents. Step 2:- Our team will verify all the information and documents provided by you. Step 3:- Then we will start the dissolution process after verifying the authenticity of the documents. Step 4:- Once your firm is dissolved, our experts will intimate you .

FAQ's on Dissolution of Firm

Can one partner dissolve a partnership?

Yes, if it’s an at-will partnership and then a partner can give notice for dissolution.

What is dissolution of partnership by consent?

A partnership firm can be dissolved at any time if all the partners decide to dissolve it.

What is dissolution by agreement?

Partnership can be dissolved according to the contract between the partners. The deed should contain the provision of dissolution and the consent of all is not necessary.

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