Deed of Retirement from Partnership

This Deed of Retirement is made on this [Date], at [City], by and among:

• [Continuing Partner 1 Name], S/o [Father’s Name], PAN: [PAN], residing at [Full Address]
• [Continuing Partner 2 Name], S/o [Father’s Name], PAN: [PAN], residing at [Full Address]
• (Add more continuing partners as needed)

AND

• [Retiring Partner Name], S/o [Father’s Name], PAN: [PAN], residing at [Full Address]

WHEREAS:

• The parties hereto were carrying on the business in partnership under the name and style of M/s [Firm Name], under a Partnership Deed dated [Date].
• [Retiring Partner Name] has expressed his desire to retire from the said firm.
• The remaining partners have agreed to the retirement and have settled accounts accordingly.

NOW THIS DEED WITNESSETH AS FOLLOWS:

1. Retirement
   [Retiring Partner Name] has voluntarily retired from the firm with effect from [Effective Date], and shall cease to be a partner in M/s [Firm Name] from that date.
2. Settlement of Accounts
   All accounts of the retiring partner have been settled and paid in full. The retiring partner acknowledges receipt of all amounts due to him including capital, profits, and any interest.
3. Release and Indemnity
   The continuing partners hereby release the retiring partner from all liabilities or claims of the firm arising after the date of retirement. Likewise, the retiring partner agrees to indemnify the firm against any liabilities he may have caused before the date of retirement.
4. Continuation of Business
   The continuing partners shall continue the business of M/s [Firm Name] under the same name and style and with the terms of the original partnership deed subject to this retirement.

IN WITNESS WHEREOF, the parties have signed this Deed of Retirement on the day and year first written above.

Signed and Delivered by:

[Partner 1 Name]     [Partner 2 Name]     [Retiring Partner Name]

Witnesses:

1. Signature: ____________ Name: ____________ Address: ____________