Question ID :
44361
255279
Good Morning, Myself CA Vamsi Krishna Ryali, managing partner of 'Vamsi & Narasimha Chartered Accountants". Our firm having two partners namely Vamsi (myself) & Narasimha. Now Narasimha wants to move out of the firm, in such cases, is my partnership firm automatically closed ? or it will convert into sole proprietor ship firm ? Is ICAI firm registration number will going to change ? For bank empanelment purposes, how experience of firm will be dealt with ?
Posted by
RYALI VAMSI KRISHNA
on
Sep 04, 2022
Filed Under
MISC.
It should be mentioned in the Partnership dissolution deed that you will continue the firm in proprietorship using same name. Hence if the name of firm is not changed, it will convert into sole proprietorship firm and firm registration number will also not change. Experience of partnership firm will be considered for bank audit empanelment in this case.
Posted by
CA. chunauti dholakia on
Sep 05, 2022
Answer ID :
83823
practically take a partner and ask the partner to resign, so that you can get benefit for partnership in bank/cag allotment
Posted by
t sankar on
Sep 19, 2022