Notice Regarding Closure of Business (India)
This document is a formal affidavit used to declare the closure of a business partnership. It serves as a sworn statement by a partner explaining that the firm is being dissolved or closed following the retirement of a partner.
Regarding Closure Of Business
Before the ………………………………...
Affidavit of Mr. ………………………………………….,
aged about …………………………………………………. years
S/o Mr. …………………………………………..………………
Resi__________________________________________ _________________.
I, the abovenamed deponent solemnly affirm and state as under:
1. That the deponent is the partner of the firm M/s _______________________, situated at ____________________________________, and hence is fully conversant of the facts deposed below.
2. That in the firm there are three partners including the deponent.
3. That one of the partners named PS has shown his intention to retire from the firm on __________.
4. That for reconstitution of the firm the deponent has no alternative but to close the firm .
5. That the deponent is therefore, closing the business with effect from ___________.
Deponent
VERIFICATION
I, ……………………………………….…… do hereby verify that the contents of this affidavit from paras 1 to 5 are true to the best of my knowledge and belief. Nothing material has been concealed.
Dated……………. Deponent
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About this template
What is this template?
This document is a formal announcement of a company's exit from the market or cessation of legal entity operations. It is not a liquidation petition or a bankruptcy filing. It contains specific placeholders for the effective closure date and the point of contact for final dues.
When should you use it?
Use this notice when a business is voluntarily winding up and needs to inform its stakeholders. If the business is being sold as a going concern, use a Business Sale Agreement instead.
What's inside
| Clause | Name | What it does |
|---|---|---|
| Body Paragraph 1 | Cessation of Operations | States the specific date on which the business will permanently cease all operations in India. |
| Body Paragraph 2 | Final Settlements | Directs the recipient to complete final accounting or salary settlements before the closing date. |
| Body Paragraph 3 | Asset Handover | Requires the return of company property including identification cards, keys, and electronic devices by the specified deadline. |
Who it's for
- an Indian company permanently shutting down its local operations
- an employer notifying staff of a business closure in India
- a proprietor informing vendors of the termination of business activities
How long it runs and how it's signed
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