Partnership deed
sanjay kumar patibandla
(Querist) 21 May 2009
This query is : Resolved
I am practicing an advocate. My friend got dealership of Idea cellular as a sole proprietor of SSC cellular. In that I had taken 40 % share by paying the share amount. As per Idea company terms now no one can enter into that business as partner.
What is the better way to prepare deed between me (on my wife's name) and ssc cellular. Kindly send me the draft.
Guest
(Expert) 21 May 2009
Dear Mr. Sanjay, my views are :-
Instead of bringing the issue of Idea Cellular (since it doesn't allow you to perform as a partner), it is better to prepare a partnership deed to run the existing business dealership of your friend. You can formulate the sentences in such a way so as to bind the business activities of the existing sole proprietorship (by transfering the rights acquired in individual capacity into partnership business). You can send me the details and the draft, if you need any clarifications further. Tks & regards.
