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Q. DUMMY PARTNER IN A PARTNERSHIP FIRM

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Anonymous

posted 11 months ago

Q.DUMMY PARTNER IN A PARTNERSHIP FIRM
DEAR SIR,
I WAS WORKED IN A COMPANY NAME M G IMPEX PRIVATE LIMITED FROM 2008 TO 2017. I HAD JOINED THERE AS ACCOUNTANT. MR SUNIL AGGARWAL IS THE OWNER OF THE COMPANY.
IN 2012 HE CREATE A PARTNERSHIP FIRM ON THE NAME OF HARSH FABTEX AND INTRODUCE ME AS 1 PARTNER AND 2ND PARTNER IS MY COLLEAGUE MR VIKAS SAINI. MR VIKAS SAINI HAS LEAVE THE JOB FROM M G IMPEX IN 2014.
IN 2015 SUNIL AGGARWAL OWNER OF M G IMPEX AND HIS FRIEND MR SUNIL SINGH NEEDS FUNDS FOR HIS REQUIREMENTS AND THEY APPLIED A LOAN FOR RS. 200.00 LAKH IN SYNDICATE BANK AND SANCTIONED THAT AMOUNT AND THEY USED THAT AMOUNT. BEFORE THAT SUNIL SINGH'S WIFE MRS. KUSUM SINGH AND HIS FRIEND MR. MANVEER RAWAT INTRODUCE AS PARTNERS IN HARSH FABTEX. IN AUGUST 2016 I REQUEST THEM TO RELEASE ME FROM AS DUMMY PARTNER AND THEY REMOVE ME AS PARTNER AND INTRODUCE SUNIL SINGH AS PARTNER.
AFTER MODIFICATION PARTNERS ARE 1) SUNIL SINGH 2) KUSUM SINGH AND 3) MANVEER SINGH AND THEY SUBMIT THE MODIFIED DEED AT BANK.
IN FEBRUARY 2017 THAT ACCOUNT WAS NPA.
IN THIS REGARD PLEASE SUGGEST ME WHAT CAN I DO FOR SAFER SIDE I WILL NOT COME IN TROUBLE DUE TO THIS.
PLEASE ADVISE

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ARPIT BATRA

Experience: 11 Year(s)

Responded 11 months ago

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A. ) Kindly share the partnership deed to get better solutions.

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Deepak Yashwantrao Bade

Experience: 9 Year(s)

Responded 11 months ago

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A. ) Dear client you are equally responsible for all enterprises of firms. Kindly go through expert and experienced lawyer for all legal action

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ROBERT D ROZARIO

Experience: 15 Year(s)

Responded 11 months ago

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A. ) Since you were a partner during 2012 to 2016 and loan were sanctioned during your tenure as one of the partner of the firm, in such a scenario you will be equally responsible and most likely to be made one of the party for recovery suit under SARFAESI Act. Contact local DRT advocate from Vidhikarya to search and find out whether any proceeding been initiated by the Creditor Bank against you or not.

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Kishan Dutt Kalaskar Retired Judge

Experience: 33 Year(s)

Responded 11 months ago

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A. ) Dear Sir,
Nothing will happen.. Send copy of partnership deed and get lodge a complaint by some body.

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Anonymous

Replied 11 months ago

Sir
I living in delhi.... So please Advise me what is suitable to me.

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Namitabh Kothari

Experience: 19 Year(s)

Responded 11 months ago

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A. ) At the time of taking loan, whether any personal guarantee document was signed ?
If you have signed any such document then you need to take steps for protection.

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Rajender Prasad

Experience: 5 Year(s)

Responded 11 months ago

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A. ) FOR DETAILS PL. CONTACT SOME ADVOCATE THROUGH VIDHIKARYA.COM AND WITH THE FRESH PARTNERSHIP DEED YOU HAD BEEN NO PARTNER OFF THE FIRM . HENCE YOU ARE ABSOLVED OF YOUR LIABILITY.

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