Legal Question in Business Law in India

I don't work in My dad's office for highly conflicting matters. My dad's business is a privately held business partnership firm. If I want to separate from my father, can I legally secure any share in my father's business assets. I am his younger daughter amongst we two sisters. I am worried that his office his taking loans. I want to separate. I live in Mumbai. Whom can I consult.


Asked on 5/30/16, 4:34 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

30.05.2016

Dear Madam / Sir,

As already advised, if you are a partner in the business, even though you do not work in your daddy's Office, you can retire from the partnership of your own free will by submitting your retirement deed. The accounts of the partnership as on the date of your retirement will be drawn you and your share (capital plus all accumulated profits, if any as and till the date of your retirement) will be paid and settled by the firm. You may engage a local professional to complete the formalities.

Regards,

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Answered on 5/30/16, 5:05 am


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