sleeping partner's right to claim partnership profit
Querist :
Anonymous
(Querist) 14 December 2009
This query is : Resolved
I am a parner in a partnership firm but in the begining of our partnership my other two partner's malafidely not added my name in the partnership deed they distribute all profits in four equal ratios and 25% each for 3 partners and 25% remaining always kept in bank. but after 3 years of partnership they refused to give my profit share saying that you are not our partner and your name is also not present on the parnership deed, what should i do now.
n.k.sarin
(Expert) 14 December 2009
If you have got 25% share in profit till three year and you have its proof and in firms ledger that your other partner shows you as a partner and in income tax return they shown you as a partner then you can claim and file a suit for your share and profit.
