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Anonymous

posted 5 months ago

Q.Mr
I funded a small business in 2014 under a partnership agreement with my neighbour. My wife was the partner in the newly formed firm ( for electrical goods viz fans, lights, geysers etc..)but it was an understanding among us that my neighbour would pay us 1000/- per month per lakh as interest for the 11.3 lakhs contributed by us. He paid for some time about 1 and half yrs, but then according to him the market for retail electrical goods slumped, then demonitization and later GST. Now he has stopped paying any money. My neighbor is continuing the business with his original firm and had transferred goods worth 8 lacs to his original firm which was functioning at the time of forming partnership. How can I wind up the firm, or and get back the money ( my claim is with interest for 2 yrs ). My neighbour who initiated the whole affair has expired and his son ( who is the other partner) is continuing. I have obtained details of all bank transactions, cheques issued to the extend possible. Also, one cheque has been dishonoured which requires payment. ( both my wife and other partners were signatories). Every year I.tax has been filed by my wife including renumeration from the said firm for 2 yrs.

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Kishan Dutt Kalaskar Retired Judge

Experience: 33 Year(s)

Responded 5 months ago

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A. ) Dear Sir,
If you have bounced cheques you may immediately file a cheque bounce case or file a civil suit for recovery of amount.

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Suneel Moudgil

Experience: 15 Year(s)

Responded 5 months ago

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A. ) settle the matter amicably keeping in mind two points, 1. death of your partner, 2. involvement of your wife.
if not settled visit a local experienced lawyer with complete documents, send him a legal notice to fix the accounts and to make payment, if not made file a suit

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Junaid Ali Khan

Experience: 2 Year(s)

Responded 5 months ago

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A. ) And also initiate a police complaint.

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Junaid Ali Khan

Experience: 2 Year(s)

Responded 5 months ago

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A. ) 1) Dissolution of the firm

2) Send them a legal notice along with the aforementioned agreement copy

3) File for recovery

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Rameshwar Dadhe

Experience: 2 Year(s)

Responded 5 months ago

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A. ) U should file complaint against them immediately under section 420 of IPC .

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