Partnership business

shashikant gharge (Querist) 29 September 2013 This query is : Resolved
Dear Sir

From 1998 to 2004 i did business with one partner ours was registered partnerdhip.my parner was looked after all the accounts and i was sales.in five years he was avoiding to settle the accounts he gave me amount only for expenses.he porposely kept away me from accounts but our business was profitable.we did leagal audits. in 2004 he told me to leave partnership.we cancel cst no's and stopped activities that time he was agree to pay me my share but year after year he is avoiding in this circumstances can i take leagal stand? and what point.please advise

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Dr. Jyothi Vishwanath (Expert) 29 September 2013
File a case based on your partnership deed and demand details of all accounts and profits and mesne profits through court.

shashikant gharge (Querist) 29 September 2013
thanks for advice

R.K Nanda (Expert) 29 September 2013
FIRST SEND LEGAL NOTICE TO HIM TO PAY UR SHARE FAILING WHICH FILE SUIT FOR RECOVERY IN CIVIL COURT.

Advocate Bhartesh goyal (Expert) 29 September 2013
Now you can not recover your profit share legally as the audit of your accounts were held in 2004 and since than your partner has been avoiding to make due payments to you.you could initiate legal proceedings against your partner within 3 years from the date of closing/dissolution of partnership.Now it is time barred case.