Legal Question in Business Law in India
Lady giving her business share to her son but partner not will to sign on the agreement. What are the viable steps the son can take
Asked on 6/19/13, 8:36 am
2 Answers from Attorneys
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Answered on 6/19/13, 8:46 am
Fca Prashant Chavan
Expert Edge LLP
20.06.2013
Dear Sir / Madam,
Share of a partner in the business can be transferred to her son, if and only if all the other partners consent to it. If not, there is nothing the son can do and the lady will have to retire from the partnership and get paid for her share after the business valuation of the firm is done as on the date of her retirement from the partnership.
Regards,
Answered on 6/20/13, 8:26 am
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