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TJ   14 June 2017

Dissolution of partnership deed with out partner's signature

We have a business which was run by family but for taxation purpose we had made this business into partnership, where Mother was partner with 60% share 20 /20 % were distributed to 2 brother.

Somewhere an year back as advice by our accountant because of the tax structure as we were paying higher tax in partnership we changed the business structure to proprietary. While doing this dissolution on  partnership deed the signature of my Mother was done by one of the employee & my my signature (another brother) since I am not staying in India was done my another employee. The thought process was since this is a family run business we did not had any objection when this was done & my brother had taken our verbal consent as he informed us of this change.

But the twist come now, after changing it to Prosperity business the brother who was handling the business dies because of some accident & the business is then transferred to his wife as a legal hire. She started taking control on the business & bank account was fully under her control.

The question here is can we (Mom & Brother - Partners can they object to the partnership business which was dissolved because of forged signature. Can we say that we have an objection. This is because after brother's death his wife is calming the business & we do not want her to take charge of our Shop & business

Here I also have another question In propitiatory business does she have control of shop & business. What I believe is business is separate & ownership of shop which is my Mother's property both different.

Can you pls help in answering my 2 query 1 on the business can we object & restore it to partnership again  & 2 Ownership of business & shop is it one or they are considered as separate thing.

Many Thnx

Tejas



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 1 Replies

S.Murugappan (B.A B.L)     16 June 2017

A and B originally constituted partnership firmon 8/2/13 and obtained property through lease in name of firm from society.That  on 14 MAY 2013 partner B resigned and his resignation was accepted by partner A.That due to some reason partner B  had not reconstituted FRESH DEED  nor dissolved  FIRM as mentioned in deed remaining partner will carry BUSINESS  but carried business with sleeping partner .That 0n 2/2/16 constituted fresh deed by inducting sleeping partner as active working partner in the firm and sent it by registerd  post to registrar.THAT  today when he had gone to deputy registrar  office found that partner B who earlier had resigned constituted forged deed dated14/5/2013 by inducting his father as partner and by making  forged signatures of PARTNER A and had given official notification of induction of his father as partner..
That today society secretary also sent notice to firm that partner B at the time of execution of deed was government servant and under section 65 contract act is fraud so demanding full value of property..today when talked to partner B and his father they told they are interested in dissolution of firm on fraud ground or if u will prove partner B  father entry is fraud  then partnership firm existed with sleeping partner which can not exist and liable to be dissolved and they will recieve share in the property.now what to do to solve issue as fast as possible but in no case i want dissolution of firm.

 


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