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3 business partners: separation problems


31-Aug-2023 (In Family Law)
There are 3 partners in a family business: 1 father & 2 sons under Indian partnership act, 1932. 1 father & younger son don't get along with the elder brother & are being unfair and misusing the power for example: purchasing assets without the consent of the 3rd partner. They ill treat the elder brother. It's 2 against 1 as any transaction needs 2 out of 3 signatures. Now, factory land is in the name of the father, which gives him authority over the work property. The elder brother wants to separate out but the other 2 are setting up unfair terms for the separation, division of assets and liabilities so that they can cause mental agony to the elder brother. If we legally separate out, we shall only get 1/3 of it all and they will get 2/3rd as they are going to be together. Any way we can legally divide everything as 50-50 between the two parties? Is there any right of son on the property of his father? What laws can help?
Answers (3)

Answer #1
682 votes
hello client as i can see your issue is seems to be very critical situation in your family business is been getting affected due to one partner out of three are not in having quardinatiom among the three. in your matter as you wiah 50% of tge total share yes it can be done through the help of law we can do the things .
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Advocate Vishwanath Pratap Singh

Adv. Vishwanath Pratap Singh

LawRato Delhi | 1000+ Answers
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Answer #2
507 votes
If your business is a family business and is running from your ancestral then both the brothers have equal rights over the business. There’s always a right of a son on the property of his father. But if the business is self-acquired then this right is not available.
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Advocate Jitender Singh

Adv. Jitender Singh

LawRatoDelhi | 1000+ Answers
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Answer #3
823 votes
Goodmorning sir / madam I have perused your query. However, I will need more details regarding the facts of the case. it will be better if we can connect and discuss this in furtherance in detail. regards
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Advocate Abhinav Sharma

Adv. Abhinav Sharma

LawRatoDelhi | 700+ Answers
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