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Partner converted the firm into a company by fraud what can I do
15-May-2023 (In Property Law)
Hi, basically, we were in a partnership of 3 people and the 2 factories and 2 houses were brought under the name of the company. however, my partner cheated on me, took the entire business and transferred it to a new company while working with same clients. can one of the partner seal the property on any basis? are there any chances to file a case for my work? i am a muslim
Whenever a director works dishonestly to the interest of company, he will be held liable for breach of fiduciary duty. Most of the powers of Directors are ‘powers in trust’ therefore, should be exercised in the benefit of company and not for their own benefit or for the benefit of other members. You can file a criminal case against the other directors of the company for the criminal breach of trust under section 405 of IPC.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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