Property give to firm as a capital

bhavesh tanna (Querist) 15 August 2011 This query is : Resolved
Res. Sir,
one partner give his plot to build a factory and agree that this is firm property.All this things is mention partnership deed.
in future he will sale its plot to any one
?
other partner get stay for sale or not ?

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Raj Kumar Makkad (Expert) 15 August 2011
If his plot was given to the firm and its ownership was duly transferred in the name of firm either as his capital share or gift then it shall be duly a property of firm and donor can not sale it and other partners hve every right to stop him doing so by adopting all legal ways.

If no ownership was changed and property still stands in his sole name and factory ws build/erected by parners of firm even then such person has got no right to sale it as interest of all other partners is involved therein.

Advocate. Arunagiri (Expert) 15 August 2011
It may mentioned in the partnership deed. Whether the same was effected, whether the titled was transferred in the firm name?

M/s. Y-not legal services (Expert) 16 August 2011
Am also agree with experts..

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