VIJAYNARAYAN (FREELANCE EDU CONSULTANT) 01 June 2010

BALANCE SHEET FOR EX-PARTNERS

my wife joined as ,' PARTNER', in one local Partnership Firm ( Chennai ) in April 2006 and she retired w.e.f 31st July 2009. The managing partner did not furnish the balance sheet for the FY 31-03-2009. When my wife requested the Auditor to furnish a copy of BL , ( may 2010 ) , the Auditor has said that for ex - partners BL cannot be given and that it can be given only to the Managing Partner.

QN: is the stand / reply given by the auditor correct ?

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7 Replies

A V Vishal (Advocate) 01 June 2010

You are entitled for a copy of the balance sheet from the firm. The auditor can deny to give a copy of the same under instructions of the continuing partners and alternately he is not supposed to divulge information to third parties other than those authorized by his clients.

VIJAYNARAYAN (FREELANCE EDU CONSULTANT) 02 June 2010

Thanks Mr.Vishal. How to break this tangle since Auditor can deny and the problem is basically the present Managing Partner is on a, sore , relation

A V Vishal (Advocate) 02 June 2010

Legally you can send a notice to the firm asking to render audited accounts till the date of resignation of your wife as a partner.

VIJAYNARAYAN (FREELANCE EDU CONSULTANT) 03 June 2010

Thanks again Mr.Vishal. I suppose legal notice is NOT just a Lawyer's notice but a Direction from a Court

VIJAYNARAYAN (FREELANCE EDU CONSULTANT) 05 June 2010

Dear All,

Good Morning

I am really expecting Mr. Vishal or some one else to further clarify that legal notice is - a simple Lawyers notice OR a Direction from Court which will take a longer time

DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE ) 19 June 2010

Legal notice is first step to the party so that they get a chance to amend their ways , it they do not react than you have to file a declartory suit in the court and even make the auditor as a party. Yos can seek disclosure of information from them through court orders.