Partner sent legal notice in LLP regarding returns

Dear Sir , i formed LLP , however my partner is not at all helping with day to day activities and tried to create hindrances with my network and good image i managed to bring investor for start up however because of his behavior and change of attitude the investor backed off, now what ever investor has invested ,he is asking returns , and now my partner is not willing to return , my image is at stake ,besides my partner is also not helping in GST fillings etc , didnt share account details ,also started new venture similar to current start up without informing me . pls advice . in between he has also sent me notice putting false allegations

Answers (2)

139 votes

From you question, it appears that your partner has set up a competing business, while being partner in your LLP. It also appears that as a result of his actions, the investor has demanded a return of his investment, which your partner has refused to do. As a result of this, your LLP (which includes you as a partner) could potentially face legal action from the investor. You have also stated that your partner has sent you a legal notice making false allegations against you. Being a partner of the LLP, you are jointly liable for all actions or inactions of the LLP. There are several actions that you ought to take starting with an appropriate reply to your partner's notice enumerating all the wrongs committed by your partner that has been detrimental to the business of the LLP and to your interests as a partner of the LLP.

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148 votes

Taking into consideration the above said facts and your query therein.

If we go through the above said facts. Given to understand that there is LLP partnership in place. The firm and its partners are bound by it. Since in this case you have already got a legal notice from your partner.

In order to ascertain legal course of action. It is suggested to consult a lawyer and with the documents.

Best Regards.

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