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Right over the business started by my dad and run by his brothers


30-Apr-2023 (In Corporate Law)
Hi Sir, My Dad started the business 20 years before and his brothers also joined him since 7 years of starting date. It is sole trading registered in my dad name. Now my dad passed away 10 days before, and the business were run by his brothers. When we contacted an auditor, he is suggesting my dad's brother to register under his name to run the business. We asked about the assets and liabilities, he intervened and said that whoever runs the business, they will take care of this and close anything in my dad's name. In this case, what rights we have to claim the business or share the business or take our share thru valuation and exit the business. We are clueless and confused by statement from auditor, Please advise.
Answers (1)

Answer #1
829 votes
You are the class one legal heir, So only you have the right over the Business. The registration can be changed only with your mother and your consent. So you can claim your full right to your father's business. If auditor is not agreeing change the Auditor...

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