Fraudulent withdrawl in partnership

 The partnership  agreement clealry says the partners can withdraw only against accrued profits with mutual agreement.

File a criminal complaint in copmpetent court against him under fraud and miappropriation of funds.

Dear Ketan,

You have two remedies, Civil and Criminal. First go through your Partnership Deed thoroughly before taking any step. 

Your partner has withdrawn more than his capital then you can ask for rendition  of account on what ground he withdrew and other is cheating and criminal breach of trust.

RAJIV BHASIN 

ADVOCATE 

bhasin.laws@yahoo.com

9811210505

Dear Ketan,

First read your Partnership Deed carefully, is it registered with Registrar of Firms.  You have two options You can file civil and criminal case. Criminal is cheating and criminal breach of trust and in civil rendition of accounts and recovery.

Rajiv Bhasin 

Advocate

bhasin.laws@yahoo.com

9811210505

Dear Ketan,

You can file criminal case for criminal breach of trust and cheating against your partner and civil suit for rendition of accounts and recover as per circumstances. Please also check whether the Partnership Deed is registered or not.

Rajiv Bhasin 

Advocate

bhasin.laws@yahoo.com

9811210505

It can be at the most civil liability not criminal since in partnership each for all and all for each.

Incidently Mr Singla what happened to your cheque case for which you made many post for criminal  actions against the complainant.

Dear Rajiv

Ours ia an unregistered partnership.  Will this amount to criminal breach of trust or cheating or both?

Thanks

Ketan

Sir, Would this mean any partner can arbitarily take away firm's money without other partner's knowledge and get away without criminal liability?

Dear Ketan,

Unregistered partnership hit by section 69 of partnership act. you cannot bring any suit against the partner but you can use the criminal action also.  Now it cannot be civil but we can try after going through the partnership in consonace with partnership act.

Rajiv Bhasin

Advocate

bhasin.laws@yahoo.com

9811210505

Can you please inform under what section can I bring criminal action? 

Dear Ketan,

You can file criminal case u/s 403, 406 and 420 of IPC.

Rajiv Bhasin

Advocate

bhasin.laws@yahoo.com

9811210505

As suggested by me earlier that you are available with criminal action only , but section 406 does not move with section 420 , go ahead with blend of sections 403, 420, 120-B, it will serve your purpose. But before taking any step against anyone you pl assure that you have sufficient evidences in your favour.