Legal Question in Business Law in India

A commercial/industrial piece of land is obtained from govt @ rs 1000 per annum for 99yrs.

i. what should be the valuation of the land to be used in fixing the shares among partners.

ii. some partners do not want to contribute cash or labour for setting up the unit; they want share only because their name is among the lessees of the leased land. pl. advice abou its legality.


Asked on 6/26/11, 3:37 pm

1 Answer from Attorneys
KarVai Legal Solutions Rajiv Gupta 9811284735 Ch.No: 359, Western Wing, Tis Hazari, Delhi www.karvai.in

valuation of land u need to ask from govt .and fix the share accordingly .

there are term called sleeping partner they dont contribute any thing but just their name

suggestion for now is discuss with your partners regarding share,duties,liabilities and profit sharing and that hire a good lawyer to make a agreement to this effect so that further no problems wuld occur.

incorporating every possiblity in partnership agreement is must and necessary.

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Answered on 6/27/11, 11:40 pm


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