Retiement of a Partners

Meaning

- A partner has the right of retiring from the firm by giving suitable notice.
Modes or ways of Retirement
- According to the provisions of Section 32 of the Indian Partnership Act,1932 a partner may retire:

(i) with the consent of all the other partners;
(अन्य सभी भागीदारों की सहमति से)

(ii) by the virtue of an express agreement between the partners
(भागीदारों के बीच एक स्पष्ट समझौते के आधार पर)

(iii) in the case of a partnership at will by giving notice in writing to all other partners of his intention to retire.
(वसीयत में साझेदारी के मामले में अन्य सभी भागीदारों को सेवानिवृत्ति के अपने इरादे की लिखित सूचना देकर।)

Position of Retirement

- The liability of a retiring partner may be discussed as under:

(1) A retirement partner remains liable to the creditors for the acts of the firm done before and up to the date of his retirement.
(एक सेवानिवृत्ति भागीदार अपनी सेवानिवृत्ति की तिथि से पहले और बाद तक किए गए फर्म के कार्यों के लिए लेनदारों के प्रति उत्तरदायी रहता है।)
(2) A retiring partner remains liable to third parties for the act of the firm done after his retirement until a public notice of his retirement until a public notice of his retirement is given. (एक सेवानिवृत्त साथी अपनी सेवानिवृत्ति के बाद किए गए फर्म के कार्य के लिए तीसरे पक्ष के लिए उत्तरदायी रहता है जब तक कि उसकी सेवानिवृत्ति की सार्वजनिक सूचना नहीं दी जाती है।)

Effects of Retirement of a Partner

- The following are the effects of retirement of a Partner:

1. The retirement of a partner will terminate the old partnership and a new partnership comes into existence.

2. The combined shares of the remaining Partners is increased.

3.Profits and Losses and Reserves are distributed among all the partners.

4.