Kindly answer in an registred partnership, partners dissolve the partnership deed through notary only with understanding that One Partner (Mr. A)will pay 50 lakh to other Partner Mr. B in two months. Thereafter Mr. A declines to give the payment to Mr. B. No other information or paper has submitted by Mr. B to any one. Now My questions are:
1.Whether Registration of Dissolution deed is mandatory? 2.Whether it would be readable as evidence in court, if Mr. B FILES A SUIT FOR RECOVERY? 3. What are the remedies available to Mr. B? 4. Mr. B does not have more money to pay court fee?
09 March 2011
When the original partnership itself had not been registered, mere registration of the Dissolution Deed would be of no help. In any case, B cannot do anything in this case since the original partnership deed was not at all registered.
Unless a registered partnership deed is dissolved legally and not got registered the original registered partnership deed would stand. In that case --
(1) registration of dissolution deed would become necessary to honor decisions arrived at in the deed.
(2) The unregistered deed may however be taken as an agreement between the parties> However, on existence of the registered partnership deed still being valid, the presiding judge at his discretion may or may not necessarily be take that agreement as evidence in any case.
(3) Remedies for B: (a) to get the deed registered, or (b) to convince the judge on the need for fulfillment of the agreement conditions in recovery case to stress his own point for implementation.
(4) Nobody can help, if B cannot pay the court fee, except that he should seek intervention of the witnesses to the deed, family members and friends of both the parties to mediate informally and make A ready morally and ethically to honor the agreement and pay his dues to B.
PS Dhingra Chief Executive Officer Dhingra Group of Management & Vigilance Consultants New Delhi-110089 Mobile: 09968076381 [email@example.com]