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DRPHIRAKE   14 January 2013 at 13:43

Claiming goodwill and share after 40 years

Mr. A, an architect was carrying on his profession in the name of his proprietary concern M/s A & Co. up to 1963. Before his death in 1965, he had admitted his Son-in-Law as a partner in his firm, keeping intact the old name of the firm as M/s A & Co.. After the death of the Father-in-Law in 1965, the Son-in-Law became the sole proprietor of the firm and he also continued the original name of the firm as M/s A & Co. Now, the Son-in-Law has become very old, and has taken outside architect as a working partner keeping intact the old name of the firm as M/s A & Co.
Now, after about 40 years the heirs of Mr. A (the original founder) who are not qualified architects are claiming goodwill or share in the profits of the firm from the Son-in-Law. My queries are 1) Can the heirs of the original founder whose name still continues to the firm, can claim goodwill or share in the profits of the firm, even though more than 40 years have been elapsed from the death of their father? 2) As no heir is a qualified architect, is the claim of heirs is legally valid? 3) Can the heirs claim any money from the newly admitted outside working partner, when he will become the sole proprietor after the death of the Son-in-Law? 4) If the present partners change the name of the Firm, what will be the legal position? Please advice.

Dinesh   11 January 2013 at 23:20

Proprietorship firm

A Proprietorship Firm cannot be sue or sued on its own name because its have no legal entity..

Please sir provide me law point in regard above said law and where i can find this law point and also suggest some authorities in regard of above said point.

Thanks..

Member (Account Deleted)   11 January 2013 at 15:35

Object clause of moa

The object clause of the MoA of a Ltd. Company inter-alia contain powers to carry on business as producers,distributors,exhibitors and financiers of cinematograph films,to constuct studios,theatre halls for exhibition of the films,stage plays,dances,performance and entertainments rewlated with the aforesaid objects.
Can the company go in for an entertainment TV channel and film production?

Geet   07 January 2013 at 10:11

Conversion of proprietorship to patnership

On of My client want to convert their business proprietorship to partnership in this case new partnership deed prepared but is necessary to add a clause "of conversion from proprietorship to partnership" if it something to add kindly help me out regarding that clause to add on the deed

Toni S. Sachdevani   05 January 2013 at 19:51

Partnership

Sirs,
Can there be a Partner in profits only?
Example:- A & B are partners. A is entitled to 75% Profits & B to 25%. However A only is liable for all the losses i.e. 100% losses & B is liable for nothing. Can B be partner in profits?

Thanks&Regards,

Praveen   03 January 2013 at 09:09

Mrtp complaint

what is the procedure to file a complaint in MRTP Commission.

Member (Account Deleted)   02 January 2013 at 23:34

Legal compliance to start the new business

Dear Sir,

My friend wants to start a business to sell the jewellary through out India with the help of e-commerce from Rajkot and this will be his first venture. At present he has PAN card. He will run his business from his father's shop.

Please let me know that what kind of legal requirement he has to fulfill before starting his business in RAJKOT (GUJARAT). (like whether he has to obtain license under Shop Act, Obtain CST Tin no., any other registration/license etc.)

AAK   02 January 2013 at 16:47

Ticket laws

Dear experts,

Can anyone pls advice me which laws/enactment governs the online Ticket Booking ?

If some one selling cricket match tickets in Black, which laws prohibits him?

Mohinder Singh   28 December 2012 at 12:00

Registration of multistate society

Dear all,
we want to establish a multistate non-agricuture thrift and credit society registered under the multistate society registration act 2002.
please Advise the adress of the registartion society at new delhi.
can this society be rgeistred at the state HQ.
Is there any agency or advocate who can help us in registraion of the society.
please inform me here or at my email at mskamboj@thekimt.com or mskamboj55@yahoo.co.in
mskamboj 09354920313
Kurukshetra (Haryana)