sec 138 NI act partnership firm
raj bhatia
(Querist) 13 September 2014
This query is : Resolved
Dear Sir, recently my partnership firm in Delhi closed down. It was a 50 - 50 ratio partnership. There is a dispute between partners. No dissolution deed has been signed. There are 3 Sec 138 cases filed against us. My partner is not willing to pay and sort. I am willing to pay my 50% share. Can I be exempted after paying my share. Both people have signed the cheques. Is there any case law? Our lawyer is my partners very close friend, and I am afraid he could be talking his side. I have a hearing on Monday, so urgent response will be of great help. I do not want to get bail and give surety just want thus case to get over.
raj bhatia
(Querist) 13 September 2014
Looking for an urgent response please!
Anirudh
(Expert) 13 September 2014
Every partner is jointly and severally liable. The liability inter-se partnership may be according to the percentage agreed between them, but to the outside world the liability is full and not according to percentage. Therefore by merely paying 50% representing your share, you cannot escape. However, if you pay 100% liability, then you can sue separately the other partner for recovering from him the amount paid by you. But here again, it will depend whether yours is a registered partnership or not.
Rajendra K Goyal
(Expert) 13 September 2014
Both partners are jointly and severally liable for the case and payment. Thrust is on the weak corner from where the liability can be fulfilled. Agree with the advise of the expert.
Advocate Bhartesh goyal
(Expert) 13 September 2014
Since the cheque was signed by both of you partners so none can be absolved from their liability and consequences of the offence of cheque bouncing.You have to pay entire cheque amount on first day of hearing if you do not want to contest the case.
