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Recover money from partnership deed investment.
26-Jan-2025 (In Corporate Law)
I have invested in a partnership deed with a builder for development of a property and a notary has been registered for that in Surat Gujarat. Now after 4 years the builder is not even returning the principle amount saying the there is no buyer for that property. There is one more invester with me who has invested in that and included in the notary document. Plz guide what are the legal steps to be taken to recover the money.
You can proceed to send a legal notice to the builder, if builder fails to reply to that legal notice, then you can proceed with filing a civil suit for damages, specific performance for recovery money, dissolution of the partnership.
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Adv. Parvez
Mumbai | 50+ Answers
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Well, you can get a FIR lodged against that Builder who is not returning the Investment made by you along with your Partner Investor. You can also file a Civil Suit parallely to recover your Investment.
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Adv. Pankaj Bajaj
Pune | 700+ Answers
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I'll require more details like - are you a partner in that partnership deed? or have you given that amount as a loan? Partnership Deed is to be read to understand this. If it's a partnership you may go for dissolution of partnership you'll get all your dues along with profits. If it's a loan then you may file a summary civil suit to recover the money based on the loan document.
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Adv. Ajinkya Sanjay Gosavi
VasaiVirar | 100+ Answers
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