Dissolution of Firms
Dissolve your Partnership Firm and stop complying with routine compliances. Prices starting from INR 1999/- only.
Dissolution of a partnership firm is a process in which the relationship between partners of a firm is dissolved or terminated. If a relationship between all the partners of the firm is dissolved then it is known as dissolution of the firm. In case of dissolution of partnership of firm, the firm ceases to exist. This process includes the discarding and disposing of all the assets of the firm or and settlements of accounts, assets, and liabilities.
Section 39 of the Indian Partnership Act 1932 states that the dissolution of a partnership firm among all the partners of the partnership firm is the Dissolution of the Partnership Firm. The dissolution of a partnership firm ceases the existence of the organization.
After this, the partnership firm cannot enter into any transaction with anybody. It can only sell the assets to realize the amount, pay the liabilities of the firm, and discharge the claims of the partners.
The dissolution of partnership takes place in any of the following ways:
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