Legal Question in Insurance Law in India

Legal advise

I started a partnership business & step down from the partnership after giving one month notice my partner also ran awy away from the business after couple of months leving some outstanding to the landlord now the land lord sent aletter demanding for the settlement if not he will court for courts. Due to hardsip i left the country for middle east employment 7 my partner still working in sri lanka(My country) What will happen if he files a case as i am not residing in sri alnka or i am not going unti december 2009. Is there any problem for my wife due to my inability to attend courts. What will happen if courts ask to pay the full amount as i am not in aposition to pay will my wife responsible for settlement or court will ask to sell my wife's properties and settle this due finally i gave my only property a piece of land as e security for the balance deposit of lease rent and the deed is still with the land lord the land value is much higher than his outstandings. Can i ask him to take the land & release me from this headache as i have no other option. I cannot contact my partner to verify the accuracy of outstandings as he doesn't come to phone. I cannot take leave from the company & I want my wife free of trouble . Pls reply


Asked on 8/29/07, 5:25 am

1 Answer from Attorneys

Re: Legal advise

Did you had given public notice of your retirement?whether you had settled your account while retiring from partnership?Whether any settlement was arrived between you and other partner?If,yes,what was the agreement? These facts and other details are required to be examined for giving any advise on subject matter.However the wrongs done by you can not be held responsible to your wife.In case of need,contact with details.professional charges are applicable.

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Answered on 8/29/07, 10:10 am


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