to get partnership rights by heirs
yasmin parbatani
(Querist) 06 December 2014
This query is : Resolved
My husband died before 8 years. He was a partner in registered partnership firm. There is a clause in the partnership deed that if any partner dies his or her heir will have the right for partnership in the firm and there is also a clause that if any dispute arises ,partners should go to arbitration. I had filed a complaint in arbitration board of Ismaili as we are Ismaili Khoja and all partners are family members. The arbitration board put the complaint aside and didn’t give any decision. Meanwhile the other partner also died. Right now there is only one remaining partner. The Partnership deed is yet in currency. Please guide me what to do to get my partnership right in the firm.
Dr J C Vashista
(Expert) 07 December 2014
Show the partnership deed to a local lawyer s/he may advise you further course of action whether to move to High Court or some other remedy.
Firstly all the LRs of your deceased husband are required to be partners (in place of deceased partner), which will grant you appropriate status of partner of the firm;
Subsequently your application for arbitration has to be accepted by arbitrator, if it is not admitted change the arbitrator or move to High Court for appointment of an Arbitrator;
Let your advocate may choose his/her strategy to proceed further, consult him/her.
DR.VEDULA GOPINATH
(Expert) 07 December 2014
Madam
You are having full legal rights for the benefits of partnership.
DR VEDULA GOPINATH
ADVOCATE HIGH COURT
Rajendra K Goyal
(Expert) 07 December 2014
Partnership come to an end as and when any partner expires. It seems the partnership was not dissolved and continued as such by remaining partners. In such case you have right to claim benefits in the partnership. Issue legal notice for settlement of the accounts.
Biswanath Roy
(Expert) 07 December 2014
First of all you serve a legal notice upon the existing partner calling upon him to disclose your husband's credits in the books of accounts as on the date of death and secondly to disclose further the book credits standing in the name of your husband up to date along with interest accrued thereon as per partnership deed and state such information is required for obtaining Succession Certificate from the Court Thereafter file an application in the civil court of jurisdiction for succession certificate. Obtaining succession certificate get it xeroxed and attest the xerox copy by any first class Magistrate/gazetted officer and submit the same before the partnership by a legal notice demanding your husband's money. Inspite of such demand if the partnership do not pay then go to civil court and file a summery suit for recovery of dues. Although recitals in the Partnership has not been disclosed yet I think Arbitration clause shall not apply in your case. Whereas, if you are interested to be a partner in the partnership in place and stead of your deceased husband you shall have to file a declaratory suit in the Civil Court against the existing partner.
uttamtibrewal@yahoo.com
(Expert) 08 December 2014
dear client.........
You need to serve legal notice to the remaning partner ... and then move to court to declare you self as legal heir of the deceased partner and stablish ur share in the firm ..as well move for declaratory suit ...
malipeddi jaggarao
(Expert) 09 December 2014
Sufficiently advised expert Shri Biswanath Roy. There is no room to make additions.
T. Kalaiselvan, Advocate
(Expert) 10 December 2014
Once again a glimpse of a great experience by expert and senior learned counsel respectable Mr. Biswanath Roy sir through his above opinion to the query. A novel reply which is not only agreeable but also highly informative to many including the law professionals who have very little or no knowledge to deal with such cases. The author may follow the same or may consult a local lawyer on further queries.
