I have entered into partnership with my friend. This was by way of an unregistered partnership deed. Both of us hold 50:50 profit:loss. After 2 years, he was unwilling to pay income tax as a result of which the IT dept levied penalty. He was still unwilling to pay and mentioned that the IT dept could seize the company assets and auction it and recover the IT dues. I proposed a solution whereby I paid off the IT dues and pay him some amount of money to which he agreed. A deed of retirement was drawn up and this was unregistered. I paid the IT dues and he was due to relinquish 50% share of his in the assets. However he has gone back on his word. Now he claims that the deed of retirement is unregistered and does not have any value in court of law. Currently I am running the business as a proprietorship firm and is under my control.
so my question is
1) What legal power and validity does a unregistered deed of retirement have given that the original partnership deed is unregistered as well?
2) Can i file a suit praying for court order to force him to honour the deed of retirement contract and relinquish his 50% share in immovable assets--- commercial complex.
3) What powers will he have to trouble me or disrupt my business.
