Partnership firm business
satyadev
(Querist) 20 February 2014
This query is : Resolved
dear experts i have query please reply to me
sir
our registered partnership firm business taken over by one of the partner but not paying my credit balance in firm account on date of dissolution ,i have sent him a lawyer notice also but he had not replied .
what remedy available legally against him to recover my capital amount in firm.
deed also has arbitration clause in it .
now our relation are also not good we dont talk.
please give solution
Devajyoti Barman
(Expert) 20 February 2014
Then invoke arbitration clause and ask for arbitration proceeding.
If name of the arbitrator is there then appoint him.
Else file petition u/s 11 of the Act in the high court for appointment of an arbitrator.
Rajendra K Goyal
(Expert) 21 February 2014
Try to have amicable solution. Try to get post dated cheques for your due.
If it is not possible and you have signed the dissolution deed you can invoke the arbitration clause. In absence of such clause move to civil court. Contact a local lawyer.
T. Kalaiselvan, Advocate
(Expert) 22 February 2014
Yes, I agree with the experts opinion on the subject issue. If there is no arbitration clause in the deed, you may approach civil court for necessary relief.
