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Gyan Shrivastava (Manager)     08 October 2011

Sister concern

There's a partnership firm having 3 working (A,B, C) & 1 non working partner (D). Out of these 3 (A, B, D) are real brother & sisters. One of the main partners (A) forms a propretorship firm in name of his brother who is one of the working partners (B) without consent of partner (C). No agreement exists between the partnership firm & the Proprietorship firm. 


Should this proprietorship firm be called a Sister Concern and the partner C (whose consent was not taken) shall be held liable for any legal action on the proprietorship firm ? Both the firms are operating from the same premises.



Learning

 1 Replies

akash kapoor (*************)     31 October 2011

SEE IN THIS CASE IF IN THE AGREEMENT ONE HAS SPECIFIED THAT A PARTNER CANNOT INDULGE IN AMY OTHER BUSINESS THAN THERE IS A POSIBILTY AND IF HE IS SOLICITING THE CUSTOMERS OR MAKING SECRET PROFIT FROM THE ORIGINAL FIRM THAN A POSIBILTY EXISTS........


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