Partnership firm not sharing profits details what can we do?
09-Apr-2023 (In Corporate Law)
Hello, i have joined a firm in partnership last year in july which is registered in US as LLC and operated from India for US customers. Also company is registered in Delhi as LLC. We had given partnership amount in seven figure through cheque in favour of company bank account in Delhi. And the partnership deed only shows amount in five figure to save tax as per them. Now they are cheating on us by not sharing the profit inspite of reminding them again and again. Please suggest what can we do now as we are feeling cheated as we have lost our entire savings and not getting profit as well.
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You are a partner in the US LLC and therefore I understand that you contributed the 7 figure sum in the US LLC. Am I correct?
I would like to understand if you signed the partnership deed which showed 5 digit figure? I (or any lawyer who will assist you in this matter) will require the LLP/LLC agreement, e-mails that you have exchanged with the U.S people so far and the bank money transfer receipts.
Are they not sharing profits equivalent to your 5 digit share?
What is your role in the Delhi LLP (we have LLP model in India and not LLC)? What work have you done so far for the Delhi LLP and the US LLC?
How exactly are the Delhi and the US LLC connected?
I (or any lawyer who will assist you in this matter) will require the LLP/LLC agreement, e-mails that you have exchanged with the U.S people so far and the bank money transfer receipts. You must have them before you meet a lawyer.
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