We are two partner in small cable networking field since last 9 years in chattishgradh. I am also working in one privet company. My partner looking the business work with two workers. But last six month they are refusing the collection money and profit sharing and they also capture the our cable field. Then what I do?
Asked 12 months ago in Business Law from Bhilai, Chhattisgarh
1) issue legal notice to partner to furnish detailed statement of accounts
2) if he refuses to submit detailed statement and pay your share of profits you can file suit for accounts
3) yiu can dissolve the partnership as per clauses in your deed of partnership
The remedy for you is to file a lawsuit for recovery of arrears of profit against the partner and also a lawsuit for injunction to restrain him from ousting you from the partnership.
If you have an agreement or partnership deed, you may enforce the agreement to recover the profits or revenue sharing.
You may send a legal notice to the partner demanding him to pay yor share in the business, failing which you may cancel the agreement and file a money recovery suit against him on the basis of some evidence in your possession to prove your claim.