in partnership firm if partner who has administrator power refuse to share accounting detail to other partner. what is provision of the law ?
Asked 3 years ago in Business Law from Umreth, Gujarat
as partner in firm you are entitled to inspect book of accounts . if partner refuses you can as per terms of partnership deed take appropriate legal proceedings in this regard.you can file suit for dissolution and rendition of accounts of the partnership.
The answer to this question lies in the partnership deed itself, in terms of which the affairs of partnership have to be conducted. The rights of a partner vis-a-vis all other partners are enshrined in the partnership deed. Every partner has an inherent right to inspect the accounting books of the partnership firm. If this right is being denied then he may file a case for requiring the partner to render the accounts in addition to seeking dissolution of partnership.
Read terms and condition of the partnership deed
Advocate, New Delhi