partnership fraud in accounts and cash.

Querist : Anonymous (Querist) 09 April 2011 This query is : Resolved
I am a partner in a renowned firm with 20% share. the turnover of my firm is around 20 crores on which standard net profit is around 3%. but for tax evasion the mastermind first partner has shown only 9 lacs as np every year which comes to around .2%. also i being an illeterate person he has manupulated my capital account. my capital account balance is jus 2.5 lacs compared to capital accounts balances of other partners amounting to 25-30 lacs. the partner has 5 -6 business and many unaccounted business in the name of trust. the total turnover of the firm is around rs. 200 crores every year. i asked him for a share of 5 crores to exit from business. he has denied . he says as per the balance sheet ur capital account is just rs. 2.5 lacs. u cant get more than that. i have threatened him that i would leak ur information to the CBI. can u suggest and appropriate legal remedy for me..

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Devajyoti Barman (Expert) 09 April 2011
If you could establish the actual share of your capital and the turnover of the firm then you could get your due share for which you have to file a suit for dissolution of partnership and for accounts.

Naresh Kudal (Expert) 09 April 2011
you can get best opinion from caclubindia.com

Jitendar Kumar gupta (Expert) 09 April 2011
yes you can get your profit if you establish the turn over of your business.
J.K.Gupta Adv.
Delhi
9868529732

R.Ramachandran (Expert) 10 April 2011
Dear Anonymous,
For obvious reasons, you will not be able to discuss many things before this forum.
Therefore, you have to approach a lawyer with all your papers and discuss, before taking any further action.

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