Date: ________________
To,
Mr./Ms. [Partner’s Name]
Partner, M/s. [Firm Name]
[Address]
Subject: Notice of Intention to Dissolve Partnership
Dear [Partner’s Name],
This is to formally notify you of my intention to dissolve our partnership firm “M/s. [Firm Name]”, which is a partnership at will.
Partnership Details:
- Firm Name: M/s. [Firm Name]
- Commencement Date: [Date]
- Principal Place of Business: [Address]
- Current Partners: [Names of all partners]
Notice Period: As our partnership is governed by the Indian Partnership Act, 1932, and operates as a partnership at will, I hereby give you notice of dissolution effective from [Date].
Proposed Settlement Process:
- Cessation of Business Operations: All new business activities should cease from [Date].
- Completion of Pending Work: Ongoing matters and commitments should be completed or appropriately handed over.
- Asset Realisation: All partnership assets should be sold or distributed as per mutual agreement.
- Liability Settlement: All outstanding debts and liabilities should be paid from partnership assets.
- Final Accounting: Complete accounts should be prepared up to the date of dissolution.
- Distribution: After settling all liabilities, the remaining assets should be distributed according to our profit-sharing ratio.
My Availability: I am available to meet and discuss the dissolution process at your convenience. Please suggest a suitable date and time for our meeting.
Professional Assistance: I propose that we engage:
- A Chartered Accountant for final accounts preparation and asset valuation
- A legal advisor (if necessary) to oversee the dissolution process
Public Notice: Upon completion of settlement, an appropriate public notice should be issued in newspapers to inform creditors and other stakeholders about the dissolution.
I hope we can complete this process amicably and professionally while protecting the interests of all parties involved.
Please acknowledge receipt of this notice and confirm your availability for discussion.
Yours sincerely,
[Your Signature]
[Your Full Name]
Partner Date: ________________
Copy to:
- All other partners (if applicable)
- Partnership firm’s registered address