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Dear Client,
A property/land hypothecated against a loan cannot be a subject matter of any agreement or contract. In the given scenario, serving a legal notice to the person, file a criminal suit against him under Sections 318 and 351 of 351 of the Bharatiya Nyaya Sanhita(BNS) for cheating and criminal intimidation. You can file a private complaint against the person in the court of the Magistrate under Section 223 of BNSS which outlines the procedure for a Magistrate to take cognizance of an of

Dear Sir,
It is a civil litigation as such it will take years together to settle the matter. Take care of your money and after getting most of your money you may withdraw from such partnership.

Dear client,

In your situation, it’s clear that your partner is trying to avoid financial responsibility and prolong the resolution of your withdrawal from the partnership. Here are some legal steps you can take:

1. Send a Legal Notice:
Consult a lawyer and draft a formal legal notice to your partner. The notice should:
Specify your request to withdraw from the partnership.
Demand repayment of your investment, including 60% of the loan and the additional ₹3.5 lakhs.
Insist on closing the C

Dear Client,
If the court has ordered the division of the property. At first understand the specifics of the court order, including how the property is to be divided. Hire a government-approved land surveyor, they will physically mark the boundaries as per the court’s directions and provide a detailed map showing the division. The surveyor will demarcate the land on-site according to the court's order. After the land is divided, you need to apply for the mutation of land records, which shall g

Dear Client,
Since the dispute between the partners of a partnership firm was held for commercial purposes, it is considered a commercial dispute, and the remedy lies with the Commercial Court constituted under the Commercial Court Act, 2015. A commercial dispute is a disagreement relating to commerce/business between two or more stakeholders. These disputes generally arise in relation to contract terms and conditions, fiduciary duties or intellectual property rights, and are resolved or settle

Dear Client,
The limitation period for filing a suit for specific performance, as per Article 54 of the Schedule to the Limitation Act, 1963 is 3 years 'from the date fixed for performance or if no such date is fixed, when the plaintiff has notice that the performance is refused. The time limit for bringing a civil recovery claim is also three years from the date of cause of action. When your parents lent money to a partnership firm in 2018 and if the claim is denied by the partners after the e

Dear Client,
According to Section 4 of the Partnership Act, 1932, “Persons who have entered into a partnership with one another are called individually “partners” and collectively “a firm”, and the name under which their business is carried on is called the “firm name”. The most common disputes that arise in partnership business are - Fraud, Breach of contract, Revealing confidential business information, Misappropriation of funds, and Financial management disputes. Generally, the

Dear Client,
According to Section 4 of the Partnership Act, 1932, “Persons who have entered into a partnership with one another are called individually “partners” and collectively “a firm”, and the name under which their business is carried on is called the “firm name”. The most common disputes that arise in partnership business are - Fraud, Breach of contract, Revealing confidential business information, Misappropriation of funds, and Financial management disputes. Generally, the

Dear Client,

All powers of the agreement are void. Legally, it will not be made valid. Consult with a lawyer/advocate regarding this.

Dear Sir,
You may please contact any expert in accounts and related subjects like chartered accountant or auditor to get appropriate guidance.