I will be highly obliged if you can help me on this matter :-
My brother and one of his friend was in partnership within 6 months they have decided to end it and as its my brother's company so he decided to introduce new partner in company.Deed was at will and it was done at Rs 100 stamp paper, but other partner never participated in any of the activity.Company is not registered but we have service tax number, pan no.After seeing his behavior without intimating him we made new deed by introducing new partner, opened bank account.Now i want help on below mentioned pointers :-
1. Is this deed valid?
2. Other partner doesn't have any proof about partnership not even a single copy of deed, so can he take any action?
3. We have asked some agent to make the (partner name) changes in pan card but don't have confirmation of the same. So how can we get the confirmation that whether new partner's name has been changed or not.
4. Now his lawyer is asking for deed copy along with pan card detail so should we give it or not?and her lawyer is asking to make cancellation deal but if we go for cancellation deed then our company and everything will be dissolved which we don't want.
5. What is the procedure to finish it all ?please suggest the positive and negative points.
Please suggest with your kind suggestions
thanks and regards