Notice of Retirement from Partnership

Formal Notice of Withdrawal (General Partnership)

Date: ________________

To,

The Partners  

M/s. [Partnership Firm Name]

[Address of Principal Place of Business]

Subject: Notice of Retirement/Withdrawal from Partnership

Dear Partners,

I, [Your Full Name], son/daughter/wife of [Father’s/Husband’s Name], aged [Age] years, residing at [Your Complete Address], hereby give you formal notice of my intention to retire/withdraw from the partnership firm known as “M/s. [Firm Name]”.

This notice is issued in accordance with Clause [Number] of our Partnership Deed dated [Date] and the provisions of the Indian Partnership Act, 1932.

Details of Partnership:

• Firm Name: M/s. [Firm Name]
• Registration Number (if applicable): [Registration Number]
• My joining date: [Date]
• Current profit sharing ratio: [Your share percentage]

Effective Date of Retirement: My retirement from the partnership shall become effective from [Date], which is [Number of days/months] from the date of service of this notice, as stipulated in our partnership deed.

Request for Settlement: I hereby request the remaining partners to:

1. Prepare complete accounts of the partnership up to the effective date of my retirement
2. Conduct a valuation of the firm’s assets and liabilities as on the retirement date
3. Calculate my share of capital, profits, reserves, and goodwill (if applicable)
4. Arrange for payment of my dues as per the settlement provisions of our partnership deed
5. Execute a deed of retirement/reconstitution of the partnership

My Commitments: I undertake to:

• Continue fulfilling my partnership obligations until the effective retirement date
• Cooperate fully in the transition process
• Make myself available for the handover of responsibilities
• Provide all necessary information for accounting and settlement
• Execute all documents required for a smooth transition

Access to Books and Records: I request permission to inspect the books of accounts and partnership records to verify the calculations relating to my settlement. Please arrange for the same at your earliest convenience.

Pending Matters: I am willing to discuss and resolve any pending matters, client transitions, or ongoing projects in an amicable manner before my retirement becomes effective.

Future Liability: I understand that this retirement does not absolve me from liabilities incurred by the firm prior to the effective date of my retirement. However, I request that proper public notice be issued regarding my retirement to limit my liability for future transactions.

Contact Details: For all communications regarding settlement and transition, please contact me at:

• Address: [Your Address]
• Mobile: [Your Phone Number]
• Email: [Your Email Address]

I express my gratitude for the professional association and cooperation during my tenure as a partner. I trust that this transition will be handled professionally and that all settlement matters will be concluded expeditiously.

Kindly acknowledge receipt of this notice.

Yours faithfully,

[Your Signature] [Your Full Name] Partner Date: ________________

Acknowledgement of Receipt:

We, the undersigned partners of M/s. [Firm Name], acknowledges receipt of the above notice of retirement on [Date].