how to Quit 50-50 partnership from pvt. ltd.
9 months ago
Due to some complication i want to quit my 50% partnership from pvt. ltd. company, so what is the easiest hassel free way to do so. It is a start-up without any kind of debt on it and i don't want to be related to it in any way.
A.Dear Client,
The Concept of Partnership and Pvt. Ltd Company is different by virtue of its constitution and governing laws. Your query gets confused when you used both concepts to sort out a resolution to your cause. While the partnership firm is governed by the Deed of Partnership and the Partnership Act, 1932, a Pvt. Ltd Company having Directors not less than two is governed by the Memorandum of Association and Article of Association and Companies Act, 1956 as amended in 2013. And in both cases, you need to abide by the conditions of the respective constitution of the establishment/organization and the provision of governing laws. Any deficiency on your part in compliance of any condition applicable on the subject under both the constitution may make you liable to face undesirable consequences. So it is better to discuss the issue with a Corporate Lawyer to take appropriate steps to quit yourself smoothly from the prevailing situation.
The Concept of Partnership and Pvt. Ltd Company is different by virtue of its constitution and governing laws. Your query gets confused when you used both concepts to sort out a resolution to your cause. While the partnership firm is governed by the Deed of Partnership and the Partnership Act, 1932, a Pvt. Ltd Company having Directors not less than two is governed by the Memorandum of Association and Article of Association and Companies Act, 1956 as amended in 2013. And in both cases, you need to abide by the conditions of the respective constitution of the establishment/organization and the provision of governing laws. Any deficiency on your part in compliance of any condition applicable on the subject under both the constitution may make you liable to face undesirable consequences. So it is better to discuss the issue with a Corporate Lawyer to take appropriate steps to quit yourself smoothly from the prevailing situation.
Helpful
Helpful
Share
A.Dear client,
We would advise you to approach an auditor to help you issue a notice expressing your intention of leaving the company. Please make sure that the notice is drafted as per the terms of the articles of association. The notice must be then issued to the Registrar of Companies
We would advise you to approach an auditor to help you issue a notice expressing your intention of leaving the company. Please make sure that the notice is drafted as per the terms of the articles of association. The notice must be then issued to the Registrar of Companies
Helpful
Helpful
Share
A.Dear Sir,
You may get issue notice expressing your desire to exist from the private limited company. Better approach your Auditor your chartered accountant and he will draft such notice as per the terms of articles of association. You have to issue such notice or intimation to the Registrar of Companies.
You may get issue notice expressing your desire to exist from the private limited company. Better approach your Auditor your chartered accountant and he will draft such notice as per the terms of articles of association. You have to issue such notice or intimation to the Registrar of Companies.
Helpful
Helpful
Share
Read Related Answers
Listed company registered office in residential premises.
Dear Client,
The use of a residential building for commercial purposes is not permissible under the law unless the class or character of the building is converted by the competent authority i.e, Munic...
Boss told me to resign
Dear Client,
An employee who is being forced to tender a resignation that amounted to illegal retrenchment/termination, if you can prove the allegation with substantial evidence. Once you succeed in p...
Commercial flate
Dear Client,
Regardless of the character of the flat, commercial or residential, a common area maintenance(CAM) charge is payable by the owner of the flat to a Society or Association.
Resignation wihout notice period
Dear Client,
A resignation without complying with the terms of employment i.e, service of notice period may liable an employee to face legal consequences for breach of terms of the contract. An employ...
Service Overlap issue
Dear Client,
There is no overarching law that prohibits a person from doing multiple jobs. It is not illegal however both companies should not have the clause “cannot take up work full time in some o...
Read Blogs on Corporate and Incorporation
Corporate and Incorporation Lawyers
Find Lawyers by Location
