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For a partnership firm to cease to exist, it needs to be dissolved. The process, known as dissolution of a partnership firm, involves the sale or disposal of all assets of the firm, final settlement of all of its liabilities, and the settling of the accounts. Any sum that remains in the business is then transferred to the partners in the profit-sharing ratio mentioned in the partnership deed.

Document Required

In the registration process of the company, the following documents:

  • PAN Card: All partners are required to submit their and the firm's PAN number as identity proof.

  • Address Proof of the firm: If the registered office place is rented, a rent agreement and one utility bill (electricity bill, water bill, property tax bill, gas receipt, etc.) have to be submitted. Also, NOC from the landlord will be submitted.

  • Accounting Information: The financial statement of the partnership firm

  • Legal Liabilities: A statement regarding pending litigations, if any involving the partnership firm.

  • List of secured creditors:

  • Original partnership deed and all its modified versions

  • Address Proof of the firm: If the registered office place is rented, a rent agreement and one utility bill (electricity bill, water bill, property tax bill, gas receipt, etc.) have to be submitted. Also, NOC from the landlord will be submitted.

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