Legal Question in Business Law in India
about patnership
We have started a partnership firm last year. As one of my partner is not acting responsible and his act is causing loss to the firm, we would like to know whether can we expel him from the partnership. He is 50% partner while me and my wife are 20 % and 30% each
3 Answers from Attorneys
Re: about patnership
Does your partnership deed has such a clause?
Re: about patnership
No, you cannot expel a pertner from a partnership firm. You can at the best dissolve the partnership.
However, there is an excpetion, if in the Partnership Agreement there is provision of expulsion. then it that case expulsion can be made in accordance with the partnership deed.
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Re: about patnership
The best advice is to dissolve the partnership but yes one more time there should be a provision for this in your partnership agreement.
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