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My father is being a share holder (10%) and his mother (10%) of the firm (Movie Theatre) since past 25 years with other relatives as partner (HUF), The managing partner and their children are NRI's be

Posted 3 weeks ago


A. Dear Sir/ Madam,
The partners have what is called a fiduciary duty to the company. In general, this means they must act with the best interests of the company in mind, above and beyond their own self-interest. If your business partner breaches their fiduciary duty to either you or the company, it may be necessary to sue. Especially if the conduct is ongoing or severely harmful to the business.
If you find this useful please rate me
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Hi, I am from Burdwan. During the end of 2017, I came in close contact with one of my friend and discussed with him about my future. He then advised me to start a new business and also shared his own

Posted 4 weeks ago


A. Dear Sir
If it is not registered partnership then you cannot go to the civil Court but you can lodge complaint with police. If it is registered then you can file a suit and get partnership dissolved and accounts settled as per law and as per terms of partnership deed.

PLEASE GIVE ME RATING AS RANK 5
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Our partner ship firm registered and it is 11 year old . Now 1 partner want to exit without adding new partner . Please tell what will be the impact of this action ?

Posted 1 month ago


A. Hi,
Since the partnership is registered, it would make the ensuing processes a little more niche. It is not a mandate for two-partner firms to dissolve when any of them leaves. However, if you want to continue as a partnership firm only then you shall have to approach the registrar's office and post your query.
If you find my answer helpful then kindly rate me.
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What's the difference between a founders agreement vs partnership agreement/deed? Are both required to be drafted for a partnership firm or one of them can do the job of both? I wish to make the agre

Posted 1 month ago


A. Dear Sir
A Founders' Agreement is a contract that a company's founders enter into that governs their business relationships. The Agreement lays out the rights, responsibilities, liabilities, and obligations of each founder.
partnership agreement is between the partners.
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We have registered as society So is it equivalent to a students organisation If no , how can we register a Students organisation such as ABVP, SFI

Posted 1 month ago


A. Dear Sir,
Please share bye-laws of your society.
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Approx two years before my neighbor have come to a proposal for starting a business for which my technical background and his operations expertise were needed. He told that he already have one registe

Posted 2 months ago


A. If you believed in orally everything and dont believe in documentation then you want to do legal documentations now ?

send a legal notice first if you dont want oral notice.
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Whether writing a deed and investing in a sole proprietorship firm is advisable?! What’s the power of deed written

Posted 2 months ago


A. Investment or loan ?
Investment means you want share then it will not remain sole proprietorship firm.
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We have a 4-5 years old LLP firm dealing in the services business, it is equally divided into two partners however within the complete tenure my partner has never given the account and finances clarit

Posted 2 months ago


A. Just send him a legal notice asking for all details or visit the office and check all the records for yourself to know everything.
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I had been appointed as a Partner with a share of 3% with a provision to draw an amount of Rs. 60,000/- per month (in calculaton with 3%)in a Health care company in the month of January 2021, since th

Posted 4 months ago


A. but you dont have any appointment letter or proof to prove that you were COO or partner.
Try legal notice first.

Advocate Ankur Goel
(Complete Law Shield) #YourLifeYourChoice
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A, B, C and D started a company and all are family members. A is the managing director and rest are permanent directors. After some years C and D are resigned from the company as directors but they a

Posted 4 months ago


A. Hi,
Section 169 of the Companies Act, 2013 deals with the removal of director. The company needs to comply with this provision other wise company and its officer will attract penal provisions under The Companies Act, 2013.
No individual can himself decide to remove a director.

If you like my answer, please give a good rating.
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