e-StampNotary
Three things a retirement deed has to achieve
- Settle the outgoing partner\u2019s account — the value of the share, how it is computed, when it is paid, and whether interest runs on any deferred amount.
- Release each side from the other — the outgoing partner releases claims against the firm, and the continuing partners indemnify the outgoing partner against firm liabilities arising after the retirement date.
- Make the retirement effective against the world — not only between the parties.
Until third parties know a partner has retired, they may continue to deal with the firm on the footing that he is still a partner. That is why a retirement is notified to the Registrar of Firms, Gujarat and, in practice, published as a public notice in the newspaper. An outgoing partner who skips this can find himself answering for a liability incurred after he left.
Also to be dealt with
- Bank mandates and authorised signatories, changed on the same day
- GST, professional tax and other registrations amended
- Goodwill — whether the outgoing partner is paid for it, and whether he may compete
- Guarantees the outgoing partner gave to banks or landlords, and their release
- The firm name, if it includes the outgoing partner\u2019s name
A partnership firm registers with the Registrar of Firms, Gujarat — a different office entirely from the Sub-Registrar who registers property documents. Registration is optional in law and a serious mistake to skip: under section 69 of the Indian Partnership Act, 1932 an unregistered firm cannot bring a suit to enforce a contractual right against a third party, and a partner cannot sue the firm or a co-partner to enforce a right under the deed. Section 69(3) preserves suits for dissolution, for accounts of a dissolved firm and to realise its property — but that is a fallback, not a plan.
We do not publish duty figures on this website. The Gujarat Stamp Act, 1958 was amended in 2025 and several articles were restructured; a rate printed on a web page goes stale and costs somebody money. As a Government authorised e-Stamping centre we confirm the duty currently prescribed for your specific document and issue the e-stamp against it, at face value. The notarial fee is separate and capped by law — ₹35 to attest execution, ₹35 to administer an oath or take an affidavit, under Rule 10(1) of the Notaries Rules, 1956. The full fee table →
Drafted here, in Gujarati or English
Drafted by an advocate of 35+ years rather than filled into a downloaded template, e-stamped at a Government authorised centre, and notarised in the same visit. If the parties read Gujarati, the document is drafted in Gujarati — not translated out of an English form, because legal Gujarati has its own settled vocabulary and a literal translation frequently means something looser.
What to bring
- The existing partnership deed and any earlier reconstitution deeds
- Photo ID for all partners, continuing and outgoing
- Latest balance sheet and capital account statement
- The agreed settlement figure and payment terms
- Registrar of Firms registration details, if the firm is registered