disputes among the partners

Hi all,

         I and my two friends started a partnership firm. agreement written on myself and only one friend among them only with the share of 1:1. Because another one wanted himself to silent partner because he is doing a government job.all the funds transferred from my account to thye firm account.iam the managing partner.and the deed and rental deed was kept at silent partner.Current account opereations were jointly.(with the sign of both managing partner and partner).

        unfortunately in last auguest my mother got cancer and i just wanted to take care of her treatment.iam unable to concentrate on business and just signed on empty cheques.After some time there are some disputes arised among us and i just want to quit the firm.I asked them to settle my accounts.

        Iam asking them from last march but they did not settled me.they both are running the business without paying me single rupee.we did not enter any dissolutuion or retirement agreement.In the meanwhile also i signed on some cheques. I asked them for Bank statement for the confirmation that hoe my cheques are using.but they refused and said that you are not the partner now,you no need to bother about the banking transactions.Then i said that i will not sign on any document untill my accounts are settelled.

         even then also they remain silent and doing business and they did not settelled my dues.They just want to avoid me.

         Now i need clarity that how can i get my money because i dont want to continue in the firm.What are my rights and i have the copies of partnership deed and rental deed only.Originals with them only. Please tell me my rights and how to proceed.

Thanks in advance


Just read the partnership agreement what is written in case of any dispute. If the arbitration clause is there you can file for arbitration process,or otherwise file for suit for dissulution of partnership .

Total likes : 1 times


ha21@rediffmail.com Mumbai : 9820174108

1.  Govt. Employees, legally CANNOT do any business or hold any office of profit.  File proper complaint against him, to his Govt. Dept., alongwith supporting documentary evidences informing them that he is doing business alongwith with Govt. Job.  The Silent partner would lose his job.

2.  AFTER above, your both partners would automatically come down to you for settlement.

3. You also have an option of filing a private criminial complaint against both the other partners in the local magistrates court, for offences of cheating, mischief, intimidation, breach of trust and so on ....

Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com

Total likes : 1 times


Hi sir,

    thanks for your valuible suggessions.

1.There is no evidence that he is partner (govt employee) in the firm.He just entered as a witness in all documents like partnership deed and rental agreements.

2.all partners capital transfered to firm account through my personal account only (including silent partners capital)

3.I suspect that there might be some empty  cheques are with them. Can  they use them against me.


Yes the cheques can be used against you...just check the  partnership about the governing law clasue.




Your are not logged in . Please login to post replies

Click here to Login / Register  


  Search Forum



IPC Grand Course     |    x