Partnership firm related issues Partnership firm related issues

Our firm partnership firm when partnership deed executive one partner introduction his capital as his balance sheet of year1987 in balance sheet in which his all asset and liability comes in partnership firm second partner introduction rupees one lac but deed of land remain his name but his land valuation added in partnership firm as his capital and firm running in year 2003 -04 he transfer land and building of firm of asset side into his personal balance sheet without sharing land and building valuation to other partner or firm balance sheet and after his dead in 2006 his son comes in his place as partner in firm and he motation and land rent recipient in his name in place of his father now firm land acquired by government of india for nhai road construction and he claim for total compensation for land and building of firm in his head . At this position the second partner can get his share on compensation or not because first party sharing 51% and second party sharing 49% kindly reply me fast as district land officer paying compensation to fist party fully as he produce land document and land rent recipient in behalf of title of compensation amount what second party can do for getting compensation as money of firm investment in land and building of firm after 1987 to 2003 ? Is second party claim for compensation or not or he will liable to get his share in compensation amount or not kindly help reply fast

Deepak Yashwantrao Bade

Responded 3 years ago

A.dear client kindly provide terms and causes of the partition deed because without seeing the same I am unable to give accurate legal advice.
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Vidhi Samaadhaan Vidhi Samaadhaan

ROBERT D ROZARIO

Responded 3 years ago

A.need to review the clauses of the partnership deed to give legal opinion. Contact me through Vidhikarya
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Vidhi Samaadhaan Vidhi Samaadhaan

Kishan Dutt Kalaskar Retired Judge

Responded 3 years ago

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A.Dear Sir,
It all depends upon terms and causes of the partition deed without seeing the same I am unable to give accurate legal advice.

For full procedure contact me on mobile through Vidhikarya.
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Nipun Kumar

Replied 3 years ago

Sir it's partnership deed not partition deed

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Vidhi Samaadhaan Vidhi Samaadhaan

Shanti Ranjan Behera

Responded 3 years ago

A.Dear Mr.Nipun Kumar,
It will be appreciated if you get in touch with a Chartered Accountant/Company Law Secretary/Advocate specialized in Company Law/Corporate Law who can help you out.
You can also be in touch with Vidhikarya.com who can suggest the names from their Panel
Shanti Ranjan Behera
Advocate
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Vidhi Samaadhaan Vidhi Samaadhaan

Kishan Dutt Kalaskar Retired Judge

Responded 3 years ago

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A.Dear Sir,
Get a stay order on disbursement of payment to him and they slowly built up your case.
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Vidhi Samaadhaan Vidhi Samaadhaan

Rajender Prasad

Responded 3 years ago

A.Dear client. first you raise objection to land& revenue officer after sending the partner a legal notice and then you file a suit in the civil for the same . For details, pl.contact some advocate through vidhikarya.com.
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Vidhi Samaadhaan Vidhi Samaadhaan

Rameshwar Dadhe

Responded 3 years ago

A.Dear sir you should approach to the charted accountant for better understanding
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Dear client, Your partner getting the amount of money totally depends on what terms and conditions were agreed on buy both of you at the beginning of the partnership. Thank you.
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Dear Sir, You may initiate both civil and criminal actions against your brother. Civil litigation cost you more however presently go with criminal litigation and get back your property.
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In my humble suggestion, you can claim your share in the profits of the partnership firm by institution a case against your husband.
question iconA person is threatening to put stay order on my business
Dear Sir, If he is not a partner of your business he cannot bring any stay order from any Court. It seems unnecessarily he is threatening you. Better you file CAVEAT and the benefits are as follows: ===================================================================== Caveat Petition in Civil (Yes) and Criminal Cases (No) Section 148A of the civil procedure code 1908 allows for the filing of a caveat petition. The caveat is a Latin word that means ‘to make someone aware.’ Caveats ensure that courts do not issue ex parte orders. The right to file a caveat is established by Section 148A of the CPC if any of the following conditions are met: • When an application is likely to be filed in connection with an upcoming suit or procedure • When an application has been filed in connection with litigation or proceeding that has already begun and is still pending. The right to file a caveat is substantive in nature since it can be filed by a third party to the complaint who is not a stranger to the lawsuit if he has the right to present in court. In Kattil Vayalil Parkkum Koiloth v. Mannil Paadikayil Kadeesa Umma, the Court held that a complete stranger to the litigation or processes may not file a Caveat petition. Applicability of a Caveat As the Court concluded in the case of Deepak Khosla v. Union of India & Ors, Section 148A of the CPC only applies to civil processes; it does not apply to criminal proceedings or petitions filed under Article 226 of the Indian Constitution. Duration for Filing a Caveat According to Section 148-A(5), a Caveat will be in effect for 90 days after it is filed, during which time the court and the Caveatee must notify the caveator. If the caveator wants to be alerted before the court takes any action after the 90-day period has passed, the caveator must file a new caveat during the 90-day term while the previous caveat is still active. Effect of Filing a Caveat After the caveat has been duly lodged and a notice of the same has been served on the applicant who has already commenced or is expected to initiate proceedings against the caveator, the court has the responsibility to notify the caveator. It’s important to remember that if the court or the applicant fails to notify the caveator who filed the caveat petition, the decision or decree issued without notice is null and void. Caveat Petition v. Legal Notice • A legal notice is not the same as a caveat petition. A caveat petition is a preventative measure taken by a person in anticipation of a lawsuit being filed against him, whereas a legal notice is a warning to the opposing party from someone who is intending to sue them • When the caveator expects the opposing party to submit an application in any litigation or proceeding against him or her, he or she files a caveat petition. When an individual has a grievance and plans to initiate legal action against the other party, a legal notice is sent • A caveat petition provides the details of the expected application that will be filed against the caveator in a suit or proceeding that has already been started or is about to start. A legal notice contains claims and facts about the issues that the person issuing the notice is facing and requests redress from the other party • When an application is filed against a caveator, the court will serve the caveator with a notice of the application. The applicant/opposite party will also be served with the caveat petition by the court. A legal notice is delivered to the opposite party by the person who issued it by registered mail • The caveat petition is only effective for 90 days after it is filed. The caveator has a right to be informed, and if the application is filed within 90 days of the caveat, the caveator can request a hearing. A legal notice will state the time frame in which the other party must reimburse or address the person who is giving the notice. If the other party does not respond to the grievance within the time frame specified in the notification, legal action can be taken against them, and a lawsuit can be filed. 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Dear Sir, Due to lack of time I am unable to read your lengthy narration followed by questions better go to local lawyer with required documents and clarify all your doubts once for all.