We have Registered Partnership firm consisting 5 partners each having 20 % share. Previously in 2011, all 5 partners sold 8 Acre out of 12 Acre land which is in the name of firm. I, as Fitfh partner also signed that agreement of sale. That time four partners didn't gave me any amount or consideration in my account as 5th partner for this property sale. All other four partners at that time orally told that we will adjust your compensation in the form of land. Means they wanted me to take 20% land of total 12 Acres in remaining share of 4 Acres which comes to 2.4 Acres. As I was no need of money that time, i agreed for same.
So, it Means all other 4 partners orally committed that they will give my share of 20% land of 12 acre means 2.4 Acre land in remaining 4 Acres instead of consideration in this land sale. So you do not take the money right now. So all the amount received was shared by other 4 partners and money directly taken by all other four partners in their bank account instead of Partnership Firm Account.
So, i just want to know that sale agreement done is legally valid or not? As all amount received directly in other 4 partners bank account instead of Partnership firm account.
Also please guide me can I get my share of 2.4 Acre land in remaining 4 Acre land? Because as 5th partner i did not got any consideration. All other 4 partner told orally that we will give you extra proportionate share in remaining land which comes to 2.4 Acres. But now they are cheating and not giving my share of land.
But now they cheating and broking original promise and wants to sell 80 percent land of remaining 4 acres directly without my consent? Is it possible that they can directly sell that land of 80% without my consent as it is Partnership Firms Land?
What precautions i can take? So that they can not do sale in registrar office without my consent.
Please guide why can I do?
1 Answer from Attorneys
Situation is cretical you must have to file case if the matter would not be resolved out of the court immediately, otherwise everything going in accordance with law and you will nothing.
Therefore my advice to you to take immediate legal action, and for it you may avail my legal services.
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