Legal Question in Business Law in India

I am an Indian. My French partner shut down business operations overnight and went away. We had incorporate a private limited company in India between the 2 of us with him as a majority stake holder.I am not sure but he maybe in France. I have been extremely stressed bsecause of him. I stopped being an active part of the business since over 6 months ago as we mutually agreed to separate. Now if there are liabilites, these need to be shared in accordance with our shareholding pattern. How can I get him to comply in France? will it be a long process and can I get justice if I have clear grounds?

Asked on 6/19/12, 8:44 am

2 Answers from Attorneys

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In your case there are lot many things which needs to be done. Filing a complaint against your french partner to applying for dissolution of the pvt ltd company.

If he is the majority stake holder then his liability is more , but in case of creditors knocking your doors, they can first proceed against the assets of the company if any then to proceed against the directors.

You may discuss further with us for more clarifications.

Regards

Answered on 6/19/12, 10:54 pm

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