• One of the partners submitted case against us on business partnership

We three started a flex printing  business. 
1.I took 7L loan and 1L cash given for business.
2. Invested 3 L and running a business
3. Invested 1L and not co operating with business and he submitted lawyer notice.

We are unable to run the business so plan to sale and deal done with 3L lose Even though plan to give 1 L to the #3. but before he submited case against us.
Asked 2 years ago in Business Law from hosur, Tamil Nadu
Since i paid 9L and 2nd  person paid 3 L and 3rd paid 1 L. Do i and 2nd person has rights to sale the office also Rental agreement with my name only Machine registered with all thee. 
What is your partnership deed suggesting an action on such an event ?  The partnership deed once mutually agreed before commencement, it has to be honored and the quantum shall be as per the individual's investment.

can the 3rd person make any nonsense. he call and tell he had 4L credit because  of this business. but he just gave 1L and he is not doing business as well.

Once there is a documentary evidence for each individual's investment there can be no reason for any individual making a tall claim on some flimsy t=reason, it can be challenged by law. 

I have 9L invested and some more amount paid for interest..  if this goes to court. how much i need to pay to him as per the agreement deed or as per the investment proof?
I will be proportionate to his investment as per the documentary roof for his investment. 
T Kalaiselvan
Advocate, Vellore
34322 Answers
367 Consultations

5.0 on 5.0

You are silent the nature of case filed against you,
I would suggest you to file a civil suit for dissolution of firm and distribution of assets of firm.
Devajyoti Barman
Advocate, Kolkata
12493 Answers
159 Consultations

5.0 on 5.0

1. The sale of the partnership business cannot be done on the basis of the amount pooled in the business. The sale is possible, in the absence of an agreement to the contrary, only in accordance with the share ratio specified in the partnership deed. 

2. If the sale is not in accordance with the manner laid down in the partnership deed the aggrieved partner can go to court to seek injunction.

Ashish Davessar
Advocate, Jaipur
22958 Answers
631 Consultations

5.0 on 5.0

1) you have not mentioned what are the contents of legal notice 

2) you have to contact a local lawyer and reply to legal notice 

3) your partnership deed , correspondence exchanged with the partners had to be perused to advice 

4) you and 2nd partner cannot unilaterally sell the office 

5) if as per partnership deed Rs 5 lakhs was to be invested by each partner but actual investment made by 3rd partner was only Rs 1 lakh you would have to pay him Rs 1 lakh only
Ajay Sethi
Advocate, Mumbai
44153 Answers
2561 Consultations

5.0 on 5.0

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