Legal Question in Business Law in India

you have not stated your facts right. once B n C are investing, it is but obvious that they are the main partners to the tune of percentage of profits qua their investments. if A is willing to share profits and no loss, its upto the B n C to decide whether to agree to the terms of A or not. where is the question of limited liability. it all depends upon the terms of agreement of partnership.

The Partnership agreement may stipulate :

(a) Value of A's technology contribution;

(b) fix share of his profits in the business;

(c) the losses, if any, shall be shared only by B & C.

Everything depends upon partnership agreement deed. check the same.

File a suit for partition and engage any local lawyer he will guide you properly.

Your further clarification is welcome at nominal consultation fee;

KAMAL GROVER,

Advocate (Chandigarh, India)

M: 09814110005

e-mail: [email protected]

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Regards and good luck

Read the partnership deed. If partnership deed is silent then all the patner should share the profit and loss. If you want to be a partner only for profit the partnership deed must be clearly worded.

It depends on the understanding whether A will be sharing only profits but not loss. A deed can be so worded.

However, there are other complications which you may want to avoid by consulting a lawyer.