Partnership firm dissolution after dissolution notice
Amit Kumar Pal
(Querist) 16 December 2018
This query is : Resolved
My father and my Uncle having a unregistered partnership firm with 50-50 share ratio.The partnership firm was build on my father's Land(registered on my fathers name).Due to several non-cooperation from my uncle ,last year the partnership firm was closed. My father already given one written notice for dissolution and liquidate the asset(machinery) of the firm(for creditors and rest will be distributed among partners).After the notice my uncle asking the land to be considered as firm's property as the firm was established on the land.
Kindly let me know what are the legal steps need to be taken.
Shall my father issue an objection notice to municipality for land encroachment?
kavksatyanarayana
(Expert) 16 December 2018
Consult local prudent CA with the material you have. don't delay.
BAALASUBRAMANNYAMM
(Expert) 17 December 2018
1) If the problem is still pending and prolonging by your uncle, better to appoint an Arbitrator and close all the issues.
2) Since the property is in the name of your father's name, there is no possibility to claim by your uncle, that the said property belongs to the un-registered firm.
rajeev sharma
(Expert) 17 December 2018
Study partnership deed. If the land is contributed as capital in the firm that will be taken into consideration as the property of firm and will be realised like any other asset of the firm.
Amit Kumar Pal
(Querist) 17 December 2018
Yes the land is shown as capital contribution but Partnership deeds is an unregistered notarized deeds.
Land is registered with father's name and also taxation receipt.
How can someone claim the land based on unregistered deeds in an unregistered partnership firm?
Kumar Doab
(Expert) 17 December 2018
You can benefit from above.
rajeev sharma
(Expert) 17 December 2018
Registration of partnership deed is not mandatory. Any unregistered partnership deed is a valid agreement.
Dr J C Vashista
(Expert) 18 December 2018
Commercial query, you can afford and must engage a local prudent lawyer for professional guidance and required proceeding.
