Legal Question in Business Law in India
How can i claim my share?
Please tell me how can i claim my share in property purchased by the partners in other names. If they have cheated our company and made some property. As before they were having nothing and suddenly they started purchasing properties. Kindly do tell me what can be done.
4 Answers from Attorneys
Re: How can i claim my share?
It all depends on your partnership deed.
Generally, a partner is liable to the partnership firm. If you can prove that the property was purchased with partnership funds, you can claim rendition of accounts and ask for your share.
If your partnership was for real estate, you can also claim benefit under non-compete clause and on such basis you can ask for dissolution of the firm, etc.
Re: How can i claim my share?
Depends on terms of partnership deed and the quantum of proof you can give
Re: How can i claim my share?
Your partnership deed has to be reviewed.
Normally a partner is responsible for the partnership firm. If you have enough proofs that the property purchased was with the funds from the partnership firm then you can ask for your share.
Re: How can i claim my share?
file suit for cheating and rendition of accounts
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