Hi!
My father had built a business (a Hotel & a Restaurant). for this he had taken a loan from the bank on his name. Later, he transfered 50% share in the Hotel & Restaurant through Memorandum of Oral Partition on 09/06/2005 on his brother's name who was actually holding only 25% share.
It was verbally agreed that Hotel & a Restaurant would be in 50-50 share pattern as an asset ,whereas the businesses would be run seperately. My father has been solely/individually filling IT Returns since last more than 20 years for the Restaurant & as a 50% partner in the Hotel. All the registrations & clearances/NOC, like from the Municipal Committee, Food, Health Deptt., Labour Deptt., Shop registration etc are on my Father's name. My father also gave one of his personal plots to the brother as a goodwill gesture. Whereas, his brother only files IT Returns for the hotel that too as 50% partner only.
Now, his brother(our uncle) is threatning us and also not letting us work. He forcibally closed both the units & said he'll not let us work & is further asking for a new arrangement as 50-50 partnership in the business also.Both the establishments are closed since last 3 months. My father thought that probably sooner or later his brother would come back in right state of mind & everything would be sorted out. But till date nothing has worked out. In the mean while, he started his own business also whereas we are out of work & with no source of income.
Apart from that, my father had laso taken a loan of 20 lacs for renovation of the Hotel on his name. None of the liabilities are on his brothers name & also we were bearing all his expenses like personal expenses, household epenses, car loan etc (amounting to almost 30,000 - 40,000 p.m.).
Also, none of us have gone to court.
Now,
Can he legally stop us from continuing the business ?
If we file a Caveat in the court & start the work at the premise can he still get a stay or restraining or stay order from the court as weare the ones who have to pay back the loan & not him?
What is the legal standing that we have in regard to the business?
What is hisl claim/position?
Please advise.
Regards.
