1. Upload
Browse
Library
Upload
P. 1
Dissolution of firm project report
Dissolution of firm
project report
Ratings: (1)|Views: 6,196|Likes: 24
Published by kamdica
Dissolution of firm project report
See more

2. For more
Notes,
Presentation
s, Project
Reports visit
–

3. a2zmba.blo
gspot.comhr
mba.blogspo
t.commbafin
.blogspot.co
m

4. DI

5. SSO
LUTI

6. ON
OF

7. FIR
M

8. According to
sec.4 of the
Indian
Partnership Act
1932,“Partnersh

9. ip is the
relation
between
persons who
have agreed to
share the profits
of a business

10. carried on by all
of them or any
of them acting
for all.”Persons
who have
entered into
partnership are

11. called
individually‘par
tners’and
collectively
a‘firm’.Dissolut
ion of a firm
means a firm

12. ceases to exist.
Therelationship
existing
between the
partners
discontinues.
The whole firm

13. isdissolved and
the partnership
terminates. Th
e dissolution of
partnership bet
ween all the
partners of the

14. firm is called
the
‘DISSOLUTION
OF THEFIRM’
[sec.39].Dissolu
tion puts an end
to the right of
the partners to

15. existas a going
concern and
is followed by
its
liquidation.Diss
olution of a
firm is different

16. from
dissolution
of partnership.
Dissolution of
partnership
involves a
change in the

17. relationshipof
partners and a
new firm is
reconstituted.Fo
r eg:- A, B and
C are partners in
the firm and C

18. retires.The
partnership
between A, B
and C comes
to an end and
partnership bet
ween A and B

19. comes into
being. Thus
retirement of a
partner does
notdissolve
the firm.
It merely severs

20. the relation
between retirin
g partner
andcontinuing
partners.
MODES OF
DISSOLUTION

21. Dissolution of
a firm may be
brought about
either by:-

22. i.

23. Voluntary acts
of the partners
i.e. without the
interference of
the
courtOr ii.Ord

24. er of the cour
t.
DISSOLUTION OF
A FIRMMODES
OF DISSOLUTION
pa
Dissolution
without order
of the Court (Sec.

25. 40 to
43)Dissolution by
order of the Court
(Sec. 44)By
agreement(Sec
40)By
compulsorydissolu
tion(Sec. 41)On
the happening

26. of Certain
contingencies(Sec
42)By notice(Sec.
43)
On partner being
of UnsoundmindPer
manentincapacityof
a partner Misconduc
tof a

27. partner affecting bus
inessWillful
or PersistentBreache
sof Agreement
Transfer or sale
of wholeinterestof
a partner Businessof
thefirmCannot beCa
rriedonSave at

28. alossCourt
beingsatisfied onany
other equitablegroun
d

34. A. By
voluntary acts
of the
partners or
without

35. interference
of the court:
1. By agreement
:- [sec.40]A
firm may be
dissolved-
i.with the

36. consent of all
the partners;
or ii.in
accordance wit
h
the contract be
tween the part

37. ners. The cont
ractmay be
express or
implied.2.By
compulsory
dissolution or
by operation of

38. law :-
[sec.41]i.By
the
adjudication of
all the
partners or of
all

39. partners but on
e asinsolventA
partner on being
adjudicated
insolvent ceases
to be a partner
of the firm.

40. [sec.34 (1)].
Thus if all the
partners are
adjudicated
insolventthe
firm ceases to
exist.

41. Similarly, if all
but one partner
is
adjudgedinsolv
ent then too a
firm will cease
to exist, for

42. there must be at
least
two partners to
constitute the
firm.ii.By the
happening of
an event

43. which makes
it unlawful for
the business of
the firm to be
carried on i.e.
business of the
firm becoming

44. unlawful.For
eg: A and B
carry on a
lottery business
which is not
prohibited on
itsformation but

45. subsequently it
is prohibited.
The firm is
dissolved.Howe
ver, when more
than one
separate

46. adventure
or undertaking
is carried on by
the firm, the
illegality of one
or more
shallnot by

47. itself cause the
dissolution of
the firm in
respect of its
lawfuladventure
and
undertaking.3.

48. On the
happening of
certain continge
ncies :- [sec.42]

50. Subject to the
contract
between the
partners, a firm
is dissolved
under
thefollowing

51. circumstances:i.
If the firm is
constituted for
a fixed term,
then by expiry
of that termi.e.
by efflux of

52. time.ii.If the
firm is
constituted to
carry out one
or more
adventure,
then

53. bycompletion
thereof.iii.By t
he death of a
partner.
iv.
By the
adjudication of
a partner as an

54. insolvent. The
partnership
isdissolved on
the date on
which the
adjudication is
made.4. By noti

55. ce :- [sec.43]In
case of
partnership at
will, the firm
may be
dissolved by
any

56. partner giving
notice in
writing to all
other partners
of his intention
to dissolvethe
firm. The firm

57. is dissolved
from date
mentioned in
the notice or if
nodate is
mentioned then
from the date

58. of communicati
on of the notice.
Thenotice must
be explicit,
precise and
final. It should
be served on all

59. the partners. A
notice once
given cannot be
withdrawn
unless all the
other partners
consent. A

60. partnership
which is not at
will cannot be
dissolved by
notice. In case
of deed of
dissolution, date

61. on which the
deed is executed
isthe date of
dissolution, not
withstanding
that a future
date is

62. mentioned
asthe date of
dissolution.
B. By the
order of the
court :-
[sec.44]

63. The court may,
at the suit of a
partner,
dissolve a firm
on the
followinggroun
ds:- 1. Insanity

64. of partner :-
[sec.44(a)]Insan
ity or lunacy of
a partner does
not, as a rule,
dissolve the
firm.However,

65. if any other
partner or the
nearest friend
of the
insane partner
files a suit for
dissolution of

66. partnership,
then dissolution
may be ordered
by the
court.2. Perman
ent incapacity o

67. f the partner :-
[sec.44(b)]

68. Activity (23)
FILTERS
Add to collectionReviewAdd NoteLike
adupedne liked this

69. 1 thousand reads
1 hundred reads
rishi79 liked this
Ramsheeda Ramsheeda Raqib liked this
Deepak Kaushik liked this
Shyam Raj Shyam liked this
Jesal Patel liked this
Hamada ElMasry liked this
Load more
Similar to Dissolution of firm project report
Dissolution of Partnership Firm
SHEKHARMVM
Winding Up
SHAKTI RANJAN MOHANTY
Dissolution of a Partnership Firm 123
CHINTU2789
Dissolution of Firm
DEBORAH
Dissolution of a Firm
MEHUL KUMAR

70. Introduction of Partnership
MANOMASHO
What Are the Procedures for Dissolution of Partnership Fi...
JASUJUNK
Dissolution of Partnership Firm
OSAMA MIR
Winding Up of Companies
SANDEEP1318
Plastic Money Full Project
NEVIL SURANI
More From This User
Ulip as an Investment Avenue Mba Final Year Project
KAMDICA
Analysis of Demat Account and Online Trading
KAMDICA
labour welfare project
KAMDICA
HRM-Training-Development-Project-Report
KAMDICA

71. WELFARE FACILITY PROVIDED TO EMPLOYEES BY BANK OF INDIA ...
KAMDICA
Labour welfare at WCL project Report
KAMDICA
Revival of Sick Units
KAMDICA
Wage Determination Process
KAMDICA
The Recruitment & Selection Process
KAMDICA
Recruitment Policy
KAMDICA
Project report on relaince communication
KAMDICA
Employee Retention Project report
KAMDICA
Time Value of Money - financial management
KAMDICA

72. Financial Management - Financial statements analysis notes
KAMDICA
Amfi, Ncfm,Nse, Bse
KAMDICA
Cement Industries Analysis
KAMDICA
IDEA Project Report
KAMDICA
Work Force diversity
KAMDICA
CSR of BPCL
KAMDICA
Talent Management Employer Questionnaire
KAMDICA
Talent Management EMPLOYEE Questionnaire
KAMDICA
Cash Management Report
KAMDICA
Management Accounting Notes
KAMDICA

73. Accounting Implication
KAMDICA
HR Practices in Hotel Industry
KAMDICA
Download and print this document
 Read and print without ads
 Download to keep your version
 Edit, email or read offline
Choose a format:
.DOC .PDF
DOWNLOAD
Recommended
Dissolution of Partnership Firm
shekharmvm
Winding Up
shakti ranjan mohanty
Dissolution of a Partnership Firm 123
chintu2789
Dissolution of Firm

74. Deborah
ways of dissolution...
Previous|NextPage 1 of 3
ABOUT
 Browse books
 Browse documents
 About Scribd
 Team
 Blog
 Join our team!
 Contact Us
MEMBERSHIPS
 Join today
 Your membership
 Gifts
ADVERTISE WITH US
 AdChoices
SUPPORT
 Help
 FAQ
 Press
 Purchase help
PARTNERS
 Publishers
 Developers / API
LEGAL
 Terms
 Privacy
 Copyright

75. © Copyright 2015 Scribd Inc.
Mobile Site
Language:
English