(Querist) 02 November 2017
This query is : Resolved
me and my 3 brother(x,y,z) is partner in shop in Mumbai in pagadi system property , before 30 years my brother(X) is unemployed so me and 2 brother (y,z) is thinking that he(X) will continue in shop but now my uncle(X) is passed away and another 2 uncle(y,z) is continuing the shop and it will not give any money and said that you have no part in this property. I am so confused what we can do? Can I sealed the shop ?
(Expert) 02 November 2017
33. Expulsion of a partner 1. A partner may not be expelled from a firm by any majority of the partners, save in the exercise in good faith of powers conferred by contract between the partners. 2. The provisions of sub-sections (2), (3) and (4) of section 32 shall apply to an expelled partner as if he were a retired partner. The rights and liabilities of a retired partner: Rights and liabilities of a retired partner: 2. Retirement of a partner
A partner may retire-
with the consent of all the other partners,
in accordance with an express agreement by the partners, or
where the partnership is at will, by giving notice in writing to all the other partners of his intention to retire.
A retiring partner may be discharged from any liability to any third party for acts of the firm done before his retirement by an agreement made by him with such third party and the partners of the reconstituted firm, and such agreement may be implied by a course of dealing between such third party and the reconstituted firm after he had knowledge of the retirement.
Notwithstanding the retirement of a partner from a firm, he and the partners continue to be liable as partners to third parties for any act done by any of them which would have been an act of the firm if done before the retirement, until public notice is given of the retirement:
PROVIDED that a retired partner is not liable to any third party who deals with the firm without knowing that he was a partner.
Notices under sub-section (3) may be given by the retired partner or by any partner of the reconstituted firm.