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can a person with positive capital take over in partnership company
01-Dec-2023 (In Corporate Law)
The negative capital is breach of partnership firm terms (assuming that each party during partnership have agreed to bring in some capital) and notice for breach and demand for requisite capital in the firm is the right of partner who are having positive balance.
Demand of dissolution and then negotiate the terms of dissolution and then either take over by virtue of settlement of dissolution wherein positive generating partner can pay-off the settlement and take over all the assets and liability of the firm.
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Adv. Chikirsha Mohanty
Delhi | 200+ Answers
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