Legal Question in Real Estate Law in India

We had created partnership firm in the year 2003 and done construction business,in which we were 3 partners myself and other two are brothers. Our partnership agreement was notery and not registered partnership.

In 2004 we registered development agreement for one plot and constructed 2 buildings, after 2 years in Sept. 2006 we gave remaining land to other developer with whom we registered development agreement and power of attorney, for which we received cash compensation but flats which other developers agreed in agreement yet to receive. Now, we don't do any business in that firm, so one day my partners approached me and said we need to close our partnership bank account in one of the bank as we are doing our seperate business and ask to sign partnership disolution agreement to close the bank account. In good faith i have sign this agreement.

My query is, can they misuse this agreement as we need to get our flats with the developer to whom we gave our remaining land to construct.


Asked on 7/25/12, 3:40 am

1 Answer from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

May be

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Answered on 8/24/12, 9:44 pm


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