Dissolution of partnership firm in Nepal

There are various Point/Reason and time for dissolution of a partnership Business.

• Dissolution by Agreement: Dissolution as per the agreement between partners.
• Dissolution by written notice: Partners can dissolve the partnership business by giving the written notice.
• Dissolution at any time: If something unexpected or beyond the agreement comes up and partners or concern department thinks betterment to close the business rather than continuing it.
• Dissolution after the expiry of time: If the partnership was formed for a certain time duration.
• Dissolution at once: On the death or insolvency of partners.
• Dissolution by Concern Department: If the concerned department found any such things (illegal or inappropriate activity by firm)

Some other point to be specified:

1. Existing partners can dissolve the firm by another agreement
2. Dissolution by notice, any partner can dissolve the firm by giving notice to all the partners
3. If any partner is unable to take responsibility of partnership deed.
4. If partner do not pay the amount payable to the firm
5. If shares are transferred without consent of other partners
6. If right of partners is taken over by the court of compensation
7. Liable for negligence
8. Death of partner
9. Dissolved by concerned department
10. Commits illegal work or violate the rules of the firm
11. If not renewed in given time.