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The partnership firm where I was a partner of had taken INR 15L as an unsecured loan under CGTMSE Scheme in 2016. I happened to quit the firm during the same year, the CA who was associated with the firm made addition and retirement deed that said that I had quit the firm and the other partners along with the new partner would be running the business. Recently, I have been receiving threatening calls from the bank manager for the partnership firm has not been paying the due EMIs. My partner also submitted our retirement deed and other documents to the bank but bank manager does not agree to accept my retirement. Bank does not want to release me of the partnership issues loop, I am disturbed by this problem and this one has taken a toll on me. Can you advise me on how to move forward?

In this case, you should have done one more thing, You should have given an affidavit saying that the partnership is modified and you do not have any liability whatsoever. If the bank had accepted that affidavit they could not have approached you now. However, I must congratulate you that you had a good CA and has done most of his work in order. Howev...


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