Partnership
Balakrishna
(Querist) 26 February 2009
This query is : Resolved
Dear Friends,
I have started a Partnership firm with a marketing person and have a Partnership Deed. I have invested around 3 lakhs towards rent advances, furniture & fixtures, telephones, Laptop, Printers and computers in November 2007.
Business did well with no profit no loss for the first year.
I have not drawn any money from the said firm, but paid my partner a regular remuneration.
Last Feb 2008 i had to leave to Middle east on a assignment for three months.
My parner had taken advantage of this and made good money in my absence and started collecting money in his name and cash, and was signing all documents as Proprietor.
After coming back i have asked him for the accounts, which he didnt give till date.
What is the action i can take to take the business details as well as recover my investment, laptop,telphone, printer and computers which are in my name.
Balakrishna
ARVIND JAIN
(Expert) 26 February 2009
FILE A SUIT FOR RENDITION OF ACCOUNTS.
arunprakaash.m.
(Expert) 26 February 2009
in india oral contract is valid and binding. you can file civil as well as criminal proceedings against you copartner with supportive documents.
