Who is Raja?
Your query is not clear
It is necessary to peruse the partnership deed
For continuation of partnership consent t of both partners is necessary
Lease, partnership, sell of interest of partner, transferee rights to continue the lease
Jayamma entered in to commercial lease agreement with Parvathi Its a registered commercial lease for 9 years After 5 years for the same premise Jayamma made a Partnership firm with Nagaraja (his own brother)with share of Jyothi - 01% Nagaraja -99% after 1 year Nagaraja sold his 99% share to ramesha(his Own brother) As on today ramesha holds the procession of the leased premise Partnership and lease ends on today 19/09/2018 ramesha the holder of 99% share wants to continue the lease for some more period Is there any possibility of continuing the partnership are there any rights to raja to go to law what type of suits can be done
Asked 5 years ago in Property Law
Religion: Hindu
13 Answers
kindly read Jyothi - 01% as Jayamma - 01%
Asked 5 years ago
kindly read are there any rights to raja to go to law as are there any rights to ramesha to go to law
Asked 5 years ago
Ramesha cannot extend the lease without consent of other partners of the firm
Dear Client,
Lease is executed for the limited period of 9 years and with Jayamma not with partnership firm. So in this case ramesha has to entered with fresh lease if Parvathi interested.
No relief in law as Remesha was never the part of lease deed.
corrected question Jayamma entered in to commercial lease agreement with Parvathi Its a registered commercial lease for 9 years After 5 years for the same premise Jayamma made a Partnership firm with Nagaraja (his own brother)with share of Jayamma - 01% Nagaraja -99% after 1 year Nagaraja sold his 99% share to ramesha(his Own brother) As on today ramesha holds the procession of the leased premise Partnership and lease ends on today 19/09/2018 ramesha the holder of 99% share wants to continue the lease for some more period Is there any possibility of continuing the partnership are there any rights to ramesha to go to law
Asked 5 years ago
1. the lease and partnership are two different things
2. Jayamman gave a lease of the premises to Parvati
3. then Jayamma forms a partnership with his brother Nagaraja with latter holding 99% shares
4. how does the forming of partnership in any way relate to the giving of lease? Unless of course if the leased land was introduced and brought into the partnership firm and was to be considered as asset of the firm
5. assuming the leased land was to be considered as an asset of the firm - then the grant of extension of lease by the majority shareholder will depend on the terms of the partnership deed
6. mere fact of being a majority shareholder would not give right to that shareholder to do all acts without consent of the other partner, provided there is no agreement to the contrary
7. if the partnership is coming to end, then again the partnership deed will have to be looked into to ascertain how the partnership asset is to be treated
8. does on dissolution of partnership by efflux of time, the firms' asset go to the majority shareholder? - that can be ascertained from the deed itself
Partnership can be continued only with the consent of partners as partnership ends on 19 th September
If ramesha wants to continue the lease he may do the same there is no legal impediment in the same
Lease is expiring on 19.09.2018, what impact will the same have on partnership ?
If the partners however does not want to continue the partnership then the same has to be dissolved
You are talking of two different subject here;
One is regarding lease agreement of the commercial place/shop
second is about the partnership firm.
The renewal of commercial lease agreement would depend on the willingness of the landowner to agree for that or not;
Regarding the partnership firm, if the deed states tht the firm will dissolve after a stipulate period or may be extended beyond that, then it depends on the resolution passed after a meeting of the board of directors and partners.
kindly read Jyothi - 01% as Jayamma - 01%
The percentage of share of the partners is not a concern, it will be decided on the basis of the partnership deed or articles of association or memorandum of association.
A meeting can be held to decide and resolve all such issues involving all the partners and share holders.
kindly read
are there any rights to raja to go to law as are there any rights to ramesha to go to law
If Nagaraj had sold his rights or shares to Ramesh, then he has nothing to claim from Ramesh or from the firm.
He cannot be benefited from any legal case also which is not maintainable since Nagaraj had already relinquished / sold his shares of the company .
Partnership and lease ends on today 19/09/2018
ramesha the holder of 99% share wants to continue the lease for some more period
Is there any possibility of continuing the partnership
are there any rights to ramesha to go to law
If the partnership firm is getting dissolved on the said date due to the expiration of the tenure of the firm and also the lease agreement is coming to a close, then the surviving partner can request for transfer of the lease agreement to his name from the date of expiration of the current lease agreement.
He can also start his new firm to do the same business from the same premises.
Dear Sir,
Continuation of lease depends upon the owners option. Firstly the lease was given to an individual but the proprietorship was converted into partnership as such it is for the owner to continue lease or take benefit of violation of implied conditions of lease. However land owner cannot ask you to vacate the premises without recourse in accordance with law.
