LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Himen Detharia (Partner)     15 September 2010

Partnership Firm,

CAN ANY ONE HELP ME,

CAN MY PARTNER FORCE ME TO SELL PARTNERSHIP BUSINESS IF I DO NOT WANT TO DO SO?



Learning

 4 Replies

Jaya Pathak (advocate and tax consultant)     15 September 2010

No , he cannot force you to sell the business , however, we may have to once look at your partnership to check and verify any clauses granting or restricting the right to do so.

Jaya Pathak (advocate and tax consultant)     15 September 2010

i meant "partnership deed" .

Himen Detharia (Partner)     15 September 2010

Actually My partner wants to retire & he has set price of business assets double then fair valve of assets. But there is clause that no partner (s) can claim goodwill on his/her retirement. so he says either you pay double or we sell the business. he is also insisting that we shall lock factory untill this dispute is settled.

  

sjhoil (adss)     16 September 2010

Hi,

I think your decision is right because dispute can be dangerous for your business . Ithink you should problem solve  earlier.

 


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register