Legal Question in Business Law in India

We had started our business 6 months back with 3 patner and one of patner is not giving that much of effort for a good running of business and when we talked about that he decided to withdrawn from deed and now the company profit and loss account was not settled and he stop signing the cheque and for which we are stopped in getting work executed.we are unable to take any further order nor able to pay the aprties their paymenyt.what necesaary step can be taken for this stupid manner he had.


Asked on 5/04/14, 12:42 am

2 Answers from Attorneys
anuradha Dixit +9312411481 dixitlawfirm

please settle the accounts with him and you can oust him from the partnership on the basis of your partnership deed.

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Answered on 5/04/14, 1:39 am
Fca Prashant Chavan Expert Edge LLP

04.05.2014

Dear Sir / Madam,

You should engage a local Chartered Accountant who can analyze and reconcile matters, prepare the Profit and Loss and Balance Sheet of the Company / firm as on the date of retirement of the withdrawing partner to enable his settlement and deletion of that partner's name from the list of signatories of the Company / firm with the Bank and so on and so forth.

Regards,

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Answered on 5/04/14, 2:59 am


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