Share of profit is not given.
Sameer
(Querist) 10 November 2014
This query is : Resolved
A partnership firm converted in to the Pvt. ltd in the year of 1984.one directors was the issue less and were main founder of the original partnership firm, A arbitration proceeding was going on with semi government establishment,arbitration order awarded in the favor of this pvt. ltd firm in year, appeal was filed against this order but the same was dismissed in the year of March 2003 by the high court,In this case too no payment is made by firm to the deceased wife till now , although her late husband was the main working director of the firm please guide how can deceased wife get justice.
ajay sethi
(Expert) 10 November 2014
what was share of deceased director in company? has company received money from semi govt establishment?
Rajendra K Goyal
(Expert) 10 November 2014
All the documents and case file need to be referred, consult local lawyer.
Sameer
(Querist) 10 November 2014
Yea company has received very substantial amount from its client( semi Govt establishment), about share of the two deceased director in the firm is very substantial because they are main founder of the company exact share is not know because all papers is with the other working directors who is denying share to the deceased legal heir.pl advise what action can be taken...
Sameer
(Querist) 10 November 2014
Yes company has received very substantial amount from its client( semi Govt establishment), about share of the two deceased director in the firm is very substantial because they are main founder of the company exact share is not know because all papers is with the other working directors who is denying share to the deceased legal heir.pl advise what action can be taken...those directors/firm to ensure deceased legal heir share.
M V Gupta
(Expert) 11 November 2014
Issue notice through Advocate to the company and if no satisfactory reply is received, file suit against the company for recovering dues. Limitation of three years from the date of cause of action applies for filing suit.
Sameer
(Querist) 12 November 2014
Sir,'
Building was completed in the year of 1997
but firm is still functioning,one partner who executed the whole project by himself,second deceased partner wife was not aware of what he is doing commercially he came often and verbally brief some point & took signature on some papers saying that this is require for official formalities, she does not know english or it can be say that she was illiterate, pl comment.
M V Gupta
(Expert) 14 November 2014
You have stated in ur first posting that the Firm had converted itself in to a Pvt Ltd Company.As such u should give notice to the company at its Registered Office.Death of one of the Directors or share holders will not affect the liability of the Company. In the absence of the contents of the paper u people have signed and given to the wife of the deceased partner no comments can be furnished.
ajay sethi
(Expert) 17 November 2014
it is necessary to go through various documents cited by you to advice
