My Father and One other Person were in a Partnership firm and into the business of construction. They had taken money from an investor to construct the building. Unfortunately my father went into Coma in 2013 and was not in sense thereafter and in August 2015 he expired. Now that investor has filed a case against our firm. Since I am one partner I am ok to handover the firm's property to the investor but the second partner is not willing to handover anything to the investor. Because of this the investor has got an injuction against the firms and our personal properties. My personal property is a joint property and only 1/5th share is available to the investor. I want to now is there any way wherein I can save my 1/5th share since I have a dependent mother and I am the sole earner. I have lost everything of mine in my father's medical treatment still I am ok to give entire firm's property i.e. my share to the investor. Please Help
It will be depending on the investor's claim and the value of work done by the construction firm as well as your late father's share in the partnership firm and the conditions of the deed. If in or around Mumbai, get in touch with us.