Partnership matter

ABHIJIT BALKRISHNA GAIKWAD (Querist) 17 July 2017 This query is : Resolved
1.There were 2 partners in a firm which has started in 1980.
2. one lady entered in a partnership firm as a partner in the firm and at the same time one partner retired.
3. it is written in the deed that the retiring partner is not taking anything from the firm , and all the old liabilities will be taken care by the continuing partner.
3. AS soon as the old partner retired within 2 months, the continuing partner has ran away and not traceable.
4. There are many old liabilities which are not settled and all the creditors, employees , govt officers are giving trouble to the partner who has just entered.
5. it is found that the old partners had opened personal accounts and have transferred the money recovered from the customers to their personal and joint accounts.
6. The old partners are also indulged in arranging FAKE C forms.
7. They used fake address of one of the partner also.

What the partner can do because she is lady and really in financial and mental trouble .

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Rajendra K Goyal (Expert) 17 July 2017
How are you concerned?

Seems moot court problem.

kavksatyanarayana (Expert) 17 July 2017
Consult a local lawyer having knowledge in company/firms laws with details.

Sudhir Kumar, Advocate (Expert) 18 July 2017
Each partner is personally liable for all dues. The so called harassement is purchased by lady. The creditors cannot be cheated this way that the old partners will vanish and new partner saying that I had just joined.

She can recover her loss by civil suit from vanished parners but has to pay the dues now.

Guest (Expert) 18 July 2017
Ignorance of Law will not be an excuse

Guest (Expert) 18 July 2017
She should have studied the status of the firm,its genuineness ,its liabilities,its earlier activities, legality etc before entering as partner

Guest (Expert) 18 July 2017
She should have taken the assistance of CA and an advocate before signing the partnership

Guest (Expert) 18 July 2017
Now first she should have the track and address of the partner whom she had replaced up to date

Guest (Expert) 18 July 2017
Take the advise and guidance of local good criminal side senior advocate and proceed in filing a cheating case against the partner who had resigned and other existing for all the illegal activities and cheating to safeguard her self