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Author Topic: Partnership - Resignation by partner  (Read 437 times)

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Offline sistvm

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Partnership - Resignation by partner
« on: May 14, 2016, 01:30:18 AM »
Partnership Business with three partners, registered, difference of opinion between partners Arbitrator appointed only one partner present and the representatives of the other two partners present but this was not made legal. settled the dispute one partner who was present signed along with arbitrator and the third partners husband who was present at the time of arbitration send the deed of release through email to the arbitrator and arbitrator forwarded to my husband who was present. Difference of opinion is one partner started a bank account by forged documents in his name alone and diverted the funds from a business and took away all the money. They went back from the arbitration settlement. I send a series of letters stating the fraud and forgery and all and in one letter I made a statement that I am resigning from the partnership due to the difference of opinion and asked them to settle the issue as per the arbitration. They accepted the resignation with out fulfilling the condition and they reconstituted the partnership with out any intimation to the registrar as per partnership act. Will this legally withstand as per partnership act?

 

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