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farappanbb (partner)     18 January 2012

Partnership

A business in India is being run by 3 overseas partners. 1 partner wants to quit. They have agreed to sign an agreement stating that 1 partner is willing to come to India after 6 months and transfer his share of business by way of registered deed. This agreement is being signed on a Indian legal  stamp paper. all the 3 partners are currently abroad and willing to sign on this stamp paper.  based on this, the other 2 partners are willing to pay him some amount of money as advance. If he refuses after 6 months to register his share of business, can a partnership deed made on Indian stamp paper and signed by 3 partners outside India be legally valid and stand legal scrutiny in a court of indian law. what is the advice to do this transfer in a foolproof way.



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farappanbb (partner)     18 January 2012

A business in India is being run by 3 overseas partners. 1 partner wanted to quit. They signed an agreement stating that 1 partner is willing to come to India after 6 months and transfer his share of business by way of registered deed. This agreement was  signed on a Indian legal  stamp paper. all the 3 partners are currently abroad and signed on this stamp paper.  this agreement was dated as signed on 1st of August 2011. However it was later realised that the stamp paper was actually purchased on 3rd of August 2011. the partner is challenging this and refusing to register his share now. please advice.



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