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First of all register the agreement under Partnership Act 1932, so that you can claim your rights under the Act.
If you do not register- No suit to enforce a right arising from a contract or conferred by this Act shall be instituted in any court by or on behalf of any person suing as a partner in a firm against the firm or any person alleged t...
Wazzeer Professional Network
ProfessionalI took over a proprietorship firm from one of my Family Friends (name 'X') in jan'2013 and mutually agreed to pay INR 10Lakhs as of goodwill to 'Mr.X' and agreed to be responsible for the firm's debts. I paid him some advance and cleared off all debts at the time of agreement and rest to be paid in 3 months. If I fail, he agreed to return the adv and all the money I have invested in the firm retaining 1Lakh. Unfortunately, Mr.X went abroad in the next month. With belief in him, i didn't make any agreement with him. Even after coming to and after 6 months, he was well and good.Basing on our relationship,
I agreed on Mr.X to work for the firm on salary and the money is supposed to pay him would be paid whenever he needs(as Mr.X said). After a certain period of 8 months, I paid him all the 10L as agreed and used to pay salary. we used to run the firm on mutual understanding without any ownership transfer for some period. At some point, when I asked Mr.X for further proceedings, he said that I didn't pay him all the money and also he says that the agreement date. jan'2013 is not valid now. I felt this is my life and invested a lot of money to run the firm. For my question to return my money as per the accounts stated, he doesn't agree with my accounts, the many I paid him and many that I have invested. At this juncture, how can I proceed? All that I have is an agreement dated jan'2013, some blank cheques signed by him, and empty letter heads signed by him. Kindly treat this on priority and give me the best suggestion to come out of this problem.
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Wazzeer Professional Network
ProfessionalFirst of all register the agreement under Partnership Act 1932, so that you can claim your rights under the Act.
If you do not register- No suit to enforce a right arising from a contract or conferred by this Act shall be instituted in any court by or on behalf of any person suing as a partner in a firm against the firm or any person alleged to be or to have been a partner in the firm unless the firm is registered and the person suing is or has been shown in the Register of Firms as a partner in the firm.
No suit to enforce a right arising from a contract shall be instituted in any Court by or on behalf of a firm against any third party unless the firm is registered and the persons suing are or have been shown in the Register of Firms as partners in the firm.
Since you have paid all money and are paying salary, you can claim in the Court and claim for the money as well based on the authenticity of Accounts. You should not use blank cheque or use empty letterhead for your benefit as it may rise to fraud.
'Get a Wazzeer' to have a Lawyer register the agreement
Best Regards,
Your Wazzeer
about 5 years ago
View answer
I took over a proprietorship firm from one of my Family Friends (name 'X') in jan'2013 and mutually agreed to pay INR 10Lakhs as of goodwill to 'Mr.X' and agreed to be responsible for the firm's debts. I paid him some advance and cleared off all debts at the time of agreement and rest to be paid in 3 months. If I fail, he agreed to return the adv and all the money I have invested in the firm retaining 1Lakh. Unfortunately, Mr.X went abroad in the next month. With belief in him, i didn't make any agreement with him. Even after coming to and after 6 months, he was well and good.Basing on our relationship,
I agreed on Mr.X to work for the firm on salary and the money is supposed to pay him would be paid whenever he needs(as Mr.X said). After a certain period of 8 months, I paid him all the 10L as agreed and used to pay salary. we used to run the firm on mutual understanding without any ownership transfer for some period. At some point, when I asked Mr.X for further proceedings, he said that I didn't pay him all the money and also he says that the agreement date. jan'2013 is not valid now. I felt this is my life and invested a lot of money to run the firm. For my question to return my money as per the accounts stated, he doesn't agree with my accounts, the many I paid him and many that I have invested. At this juncture, how can I proceed? All that I have is an agreement dated jan'2013, some blank cheques signed by him, and empty letter heads signed by him. Kindly treat this on priority and give me the best suggestion to come out of this problem.
-
Wazzeer Professional Network
ProfessionalFirst of all register the agreement under Partnership Act 1932, so that you can claim your rights under the Act.
If you do not register- No suit to enforce a right arising from a contract or conferred by this Act shall be instituted in any court by or on behalf of any person suing as a partner in a firm against the firm or any person alleged to be or to have been a partner in the firm unless the firm is registered and the person suing is or has been shown in the Register of Firms as a partner in the firm.
No suit to enforce a right arising from a contract shall be instituted in any Court by or on behalf of a firm against any third party unless the firm is registered and the persons suing are or have been shown in the Register of Firms as partners in the firm.
Since you have paid all money and are paying salary, you can claim in the Court and claim for the money as well based on the authenticity of Accounts. You should not use blank cheque or use empty letterhead for your benefit as it may rise to fraud.
'Get a Wazzeer' to have a Lawyer register the agreement
Best Regards,
Your Wazzeer
about 5 years ago
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