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M.A.Khan   06 February 2021

Legal query

my daughter in law had sold one of her property to buy another property before she could get the money.she identified another property in the city limits to buy with that money since the payment was delayed i funded her from my company which is a partnership concern by making a funding agreement since her deal was cancelled she wants our company to sell the property and take back our money so what type of agreement should we make from her


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 2 Replies

Pradipta Nath (Advocate)     06 February 2021

Agreement to sell and specific performance of the sale proceeds.

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     06 February 2021

1. FIRSTLY, it was illegal on part of Partnership Firm, to indulge in any type of "Funding Agreement" which probably is not the  business objectives of Partnership Firm.

2. Due to above the entire transaction shall be treated as an offence under PMLA & Benami laws.

Keep Smiling .... Hemant Agarwal
VISIT:  www.chshelpforum.com


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