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swamitr parmanand   19 April 2018

Dispute of property of partnership firm

Sir/mam This case is based on dispute on property of partnership firm . 1) Their were 4 working partners in a partnership firm.. 2 of them voluntary retired after some years ......and started doing the same business in competition of the firm business...... 2) The partner who Retired sued against Remaining partners on ground of expulsion from firm....and claimed share in property of the firm Note- The land on which Partnership firm was working was registered in the Name of Firm itself......not the partners......& The deed clearly states that the Constitution of Firm can be changed as per mutual agreement between partners ..... Sir/mam my question is that will the Retiring partners who have sued remaining partners will succeed in getting the share in property of Firm.........or not...... Or they will get only the share of profit Goodwill interest on capital up to the date of retirement... The above case is pending before Jodhpur high court ........ please help all respected members of this forum Thanks in advance


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 1 Replies

Adv Deepak Joshi +917017821512 (Advocate)     21 April 2018

At the time of retiring partner must have received some money or some other kinds rights in profit or share in the assets of the partnership firm.

Retiring partner are eligible for share of profit Goodwill interest on capital till there date of retirement unless there is agreement to contrary.


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