Does a Working Partner ( for more than 40 years ) in a firm in India has any Right on Assets of the firm even if not specified in the Partnership Deed ?
1 Answer from Attorneys
Every partner has right in the Assets of the Partnership Firm, whether it is mention in the deed or not. However, most of the dispute are, whether the assets is the property of Firm or it is individual asset of the partner.
So if it is established that the asset is the property of the FIRM, then every partner has right in the said property upon dissolution.
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