Sir,
My cousin and me jointly constructed a new red-gram dall mill 4 years back to run the mill jointly with other partners. The total cost of the land, building & machinery was nearly 1.2 crore. My cousin and me paid 60 lakhs each and decided to run the mill with the help of other partners. Except my cousin and me, others are only running partners, they don't have any right on the land, building & machinery. My cousin and me are construction as well as running partners and we both have major stake in the running business. All the running partners decides a rent for the mill and share the rent according to their running share. The total profits after deducting the rent is shared among all the running partners. My cousin and me share the rental income equally.
As the profits are growing each year and the rental value is very low when compared to the profits, my cousin and other running partners jointly had discussion and talked against me, finally they came to a conclusion to force me out of the running firm by just paying the nominal rent and they want to become rich by sharing my running profits too.
Every year i need to sign on the rental agreement form agreed to give the mill to the running firm, now i have decided not to sign on the agreement form as i am not intererested with their cruel activities.
I am not worried about my future income and don't want to sell my construction share too. As they are not allowing me as a running partner, so I have decided to take the extreme step of closing the doors of the mill as a 50% stake holder in the land, buidling & machinery. I don't want to allow the business to run as all they are cheating me and decided to throw me away.
Can I have the right of closing the doors of the mill or do i face any legal issues in future on this decision?
Please help me.
Thanks & Regards,
Nageswar.
