hello People
We had a partnership firm and my partner was supposed to retire from a particular date. Just before retirement (about 8-9 days prior) my partner in my absence withdrew a huge amount in excess of his capital account which was lying in the bank account. We had agreement where any partner could sign cheques.
I have documentary evidence to prove I was not in town on that day.Also our partnership deed allowed for partner's withdrawal only against accuriung share of profit as per mutual agreement. The partner who has withdrawn this amount has huge nehative balance and needs to pay back the firm. Which means the withdrawal was not against accrued profit. Can I press criminal charges?
FYI Ours is an unregistered partnership firm. Please help SOS!
