Partnership Law
Querist :
Anonymous
(Querist) 14 January 2011
This query is : Resolved
i am partner of firm all members are of our joint family my share was 1/6 till 2006 than in 2006 two cousins were added share was reduced to 1/8 . mostly my two uncles handles all procedures of the firm .from firms empolyee i came to know that my name is no more in the partnership deed and a new deed is made and instead of mine they have made one of their son as partner which i found was true they have now restristed my entry to the firm niether they gave me any share or money what are legal remedies
adv. rajeev ( rajoo )
(Expert) 14 January 2011
Unless retirement deed is signed by you, you cannot be deleted from the partnership firm.
Guest
(Expert) 14 January 2011
YOU MAY FILE A CIVIL COURT MATTER.GOOD LUCK
Devajyoti Barman
(Expert) 14 January 2011
The act of the other partners are not permissible. File either a suit for delcration and injunction or suit for dissolution of partnership and for accounts.
Amit Minocha
(Expert) 14 January 2011
without your resignation and signatures you cannot be thrown out of partnership. File a suit and also seek rendering of accounts as well as addition of partners as illegal.
Kirti Kar Tripathi
(Expert) 14 January 2011
I agree with experts. Once partnership is created with the consent of all the partner it can be dissolved or altered either by consent of by operation of any condition of law in this regard. Thus you cannot be excluded from the partnership firm. as suggested by Mr Barman file either a suit for delcration and injunction or suit for dissolution of partnership and for accounts.
Parveen Kr. Aggarwal
(Expert) 14 January 2011
Section 32 of the Indian Partnership Act, 1932:
"32. Retirement of a Partner:- (1) A partner may retire -
(a) with the consent of all the other partners,
(b) in accordance with an express agreement by the partners, or
(c) where the partnership is at will, by giving notice in writing to all the other partners of his intention to retire.
(2) 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.
(3) 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 party.
(4) Notices under sub-section (3) may be given by the retired partner or by any partner of the reconstituted firm."
Parveen Kr. Aggarwal
(Expert) 14 January 2011
Section 33 of the Indian Partnership Act, 1932:
"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 or 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."
