Hindu daughter's right in business started with joint funds
srinivasan
(Querist) 13 February 2010
This query is : Resolved
sir
my father started a partnership firm with joint family fund with family
members that is his brothers as partners, in the year 1968, we belong to
hindu religion, and another company as pravite limited company in the year
1984 with same family members as directores.It contuned till 1987 after that
my father brothers relinquesed thear right in favour of my father, since
they wear companseated with other business started with joint funds.At the
same year 1987 he made his two sons as partners and directores.he dident
make any gift to us , after in the year 2006 my father got his share in the
joint family property which was sold., my father invested that funds also in
the paqrtnership firm and pravate limited company.It contuned till 2008 my
father died in2008 interstate with out will, in our family we are five
children 2 sons amd 3daughters, all of us are married.
Now my sisters are claiming equle rights in all the propertys. That is the
house property in the name of my father,some funds invested in bank as
F.D in my fathers name,
partnership firm ,and the pvt ltd company.Will the partnership firm and pvt
ltd company also biend to the H.S.A 2005. Sir now the daughter of a hindu
are also equle coparceners,will they get equale right in partnership firm
and pvt ltd company since in was started from joint family fund,and also
joint family fund which was resently invested in the year 2006.Sir please
clear my query.
adv. rajeev ( rajoo )
(Expert) 14 February 2010
In view of the recent Karnataka High Court Judgement amended Hindu succession act is prospective not retrospective.
I will submit it shortly. Please refer it.
