N.I. cases
priti jain
(Querist) 20 March 2016
This query is : Resolved
How much is a partner liable in N.I. cases ? The respective partner in question haven't signed a single cheque neither was he even aware of such deeds of his partner. In such a situation what options are available to him ?
Devajyoti Barman
(Expert) 20 March 2016
If he is involved the day to day running of business and the cheque was signed in due course of business then any of the partner is jointly and severally liable.
So if only partner is contesting the case then he can be directed to pay the whole amount irrespective his share in profit anf loss with other partner in different ratio.
He can later claim his loss from the defaulting partner.
priti jain
(Querist) 20 March 2016
The partner in question wasn't involved in day to day business being severally ill. And plus he wasn't aware of the transaction and haven't signed any cheque. What remedies does he have ?
DEFENSE ADVOCATE.-firmaction@g
(Expert) 20 March 2016
Yes all partners are liable.And the cheque amount would have been accounted in your books so to prove that other partner was not knowing is not so simple.
In Cheque bounce cases liability is presumed in law but there are many technical issues which can help to come out of the case which vary from case to case.
Advocate defence firmaction@gmail.com
Rajendra K Goyal
(Expert) 20 March 2016
All the partners are liable individually and severally for the acts of the firm.
Adv. Yogen Kakade
(Expert) 21 March 2016
As this is the busines transaction and the decision has been taken by the another partner in good faith of the business, then the company along with it's partners are individually and severally liable for the transaction and the payments made towards the same. Although the transaction can be challenged in certain cases. for that purpose the fats of the case are need to be seen in detail.
Adv. Yogen Kakade
Jurycon Incorporation
Advocates & Consultants
Email: juryconincorporation@gmail.com
Web: www.juryconn.in Call: 020-65248888
