Legal Question in Business Law in India
partnership act
our firm sanjay cottonseeds industries started business andtaken sales tax incentive under 1993 scheme of mah. gov.
Now the firm is in financial difficulties . one financer is ready to help but the procedure as per scheme is to take him as a incoming {new} partner in the firm and then there will be retirement of old partners simultaniously and handing over factory to him but one of the old partner is not ready to sign new partnership deed, and he is continuously harashing by his acts.
we want to ask can we expell him from partnership by the decision of majority of the partners? though there is no provision in act to expell by majority . Is there is any decision of any court in this matter?
pls suggest us
1 Answer from Attorneys
Re: partnership act
There is an express provision in the Indian Partnership Act to expel a partner acting against the interests of the partnership firm.
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