Frauld related query

ritesh (Querist) 06 January 2012 This query is : Resolved
sir,
i have joined business with my friend in partnership of civil work in pwd dept.

before i became partner business was carried out with name "M/S kalpana associate" but after i joined the name was changed & applied for new registration in firm & society office but due to some formalty left out the firm registration cannot take please and document were returned asking for such documents.

during registration time we got a contract and started working investing money.but my friend instead of partnership firm made sole properitor when i know about the same i talk him for the same.

then he on the letter pad of firm duly sealed & signed given me affidavit writting that he is also partner and invested so and so money.

my question is that such affidavit on firm letter pad can be work as proof in case of filing case in court.

please reply as soon as posible

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Devajyoti Barman (Expert) 06 January 2012
Yes it can establish your status as Partner.

Sudhir Kumar, Advocate (Expert) 06 January 2012
partnership is best method of losing freindship. You better show this paper to a nearest lawyer.

Shonee Kapoor (Expert) 06 January 2012
It establishes partnership.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

Raj Kumar Makkad (Expert) 06 January 2012
This is nothing but a confirmation of the partnership but the terms and conditions of the partnership like share, distribution of profit, status of partner (silent, active etc.), other rights and liabilities of partners etc. are no where and serious dispute may arise on those points which may darken your future in this business.

I think you should not have made heading of this query as "fraud" without smelling the intension of your friend. It is not good to always suspect in the friendship.

Sudhir Kumar, Advocate (Expert) 07 January 2012
as advised above it establishes partnership. But as seen you friend is not honest. You better walk out of this so called partnership by getting whatever return you can get. Remember as partner not only you have rights but liability also, As partner your friend can cheat a number of persons create number of debts in the name of firm and disappear. Your proof of not getting benefited by this deed will be of no use and you will be liable to pay all such amounts and claims, personally )if you also do not disappear) from your own pocket and own resources (even if you fail to get salvage of assets of closed firm. A cheat partner can make you pauper and bring on road. So do not remain under bliss that this piece of paper gives you rights. It gives much more liabilities as well. You are partner and nor shareholder so you liability is limited. You have to start for dissolution of partnership with such ex-friend(yes he is now ex-friend he was friend as long as you had no partnership with him) if you have any sympathy for your family.

prabhakar singh (Expert) 07 January 2012
As the firm could not be registered,section 69 is still in your way as bar should there arise any need of filling any suit based on those affidavits and writings showing partnership between you two.Better come out of the mess by cool strategy plans because you do not have a right man as a partner.