Partnership firm

Ashish Singh Narwariya (Querist) 06 February 2014 This query is : Resolved
sir ,my query is that one partner(A) of regd firm retires from firm by giving written notice and business of firm taken over by other partner(B) but the other partner (B) is not paying this retired partner(A) capital credit balance as per financial accounts , what remedy is with this to recover amount , partner ship deed has arbitration clause in it ,a lawyer notice is also given to that partner(B) in this regard but he did not turn up he doesn't talk to him.
what legal remedy left to partner (A) .
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Raj Kumar Makkad (Expert) 06 February 2014
The retired employee should file a sit seeking rendition of accounts or should file a suit for recovery of his dues on the dissolution of the partnership firm.

Advocate. Arunagiri (Expert) 06 February 2014
Why the partner is transfering his shares to the other partner without getting his money.

When there is a arbitration clause, appoint the arbitrator and get a solution.

Rajendra K Goyal (Expert) 07 February 2014
Retiring partner should have received the capital credit in his account before signing any dissolution. He should have taken the help of arbitration clause.

Try to settle the issue with the help of nears and dears and if no result take the help of court.