LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

KARTHIKHEYAN (Manager)     07 July 2013

Just a comission agent

Background: My father started a construction company before 26 years. Bank account was  opened in the company name for which my brother is the proprietor. I was studying in 9th standard at that time. As time passed the construction activity was carried out by my father with my  brother as proprietor and myself as a POA for the land purchased for the business. There was no one to guide us to convert the proprietor firm to a Partnership firm. I keep on acting as a POA for all the projects.

 

As time passed the construction Company AAdhithiya Construction grown only with the balance sheet peaking up for my brother leaving behind myself as a commission agent for the land sold as UDS for flats for all long 15 to 17 years.

I lost my

1.       Dignity,

2.       Self respect, selfconfidence.

3.       Life of 15 to 17 years only in making the growth of Aadhithiya construction.

4.         As Not knowing what is the financial status of myself in front of my wife.

5.       On what  proportion the profit is shared is not made clear or documented.

6.       I have been cheated all in all cunningly.

The question here is, is there any provision to claim the Partnership of Aadhithiya constructions as a son of my father?

How i should get the life i lost  ? 



Learning

 1 Replies

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 )     07 July 2013

You would have got some remuneration while giving services as POA from your father/brother. It is like HUF business.Partnership firm takes place if any agreement between the parties.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register