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Partners don’t cooperate and refuse to take action
18-Feb-2023 (In Arbitration Law)
We started a restaurant 2 years back. Ever since we have had differences. Even at the time of winding up my partners have taken a back foot and do not cooperate and take any initiative. There are tax liability and other dues, they just refuse to take my calls and respond. Without their signatures I cannot close this matter and/or move forward. All the parties contact me (as I was the point of contact) for their dues to be cleared) and the firm account doesn’t have enough funds. Is there a way I can get around this?
You can approach your partner By sending them a legal notice as per the terms of your contract in case there is an arbitration clause you can invoke the arbitration and resolve the matter through the arbitration proceedings and proceed further you can also approach the court directly Both you and your partner are equally liable for all the liabilities if it is a 50-50 partnership And if your partner is backing out from his responsibility/liabilities you can take legal action against him and thereafter close the restaurant / company et cetera
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Adv. Madhu Tyagi
Delhi | 200+ Answers
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You must have a thorough conversation with your other partners, regarding the winding up, a solution to conclude the liabilities of the partnership.
A legal notice may be issued to the partners, requesting to wind up the restaurant, or a prayer be made before competent authority, in this regard.
A legal notice may be issued to the partners, requesting to wind up the restaurant, or a prayer be made before competent authority, in this regard.
Helpful?
Adv. Sujeet Notwal
Delhi | 200+ Answers
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