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Indian Law/Legal action need to take for braking partnership firm?

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Question
We have small scale unit in baramati. It comes under Audyogik Vasahat (Not MIDC). This unit is not working right now. It has 9000 sqft plot with one shade. This plot is taken on lease from Audyogik vasahat. We have three partners in it.  I have 45% of shares and other two partners have 45% and 10% shares. They are not ready to sell / lease transfer to someone else. They are not buying my shares. They are also not selling their shares to me. They are not ready to give me any type of NOC . I want to separate the 4000 sqft plot from total 9000 sqft plot ( which is of my share). I want to make separate lease deed for that new 4000 sqft plot. Is is possible with respect to Audyogik Vasahat laws?. What leagal action I need to take.

Answer
Anand: In the given circumstances, you will have to file a suit for dissolution of partnership and your share in it making the other partners and the Audyogic Vasahat a party. As a interim measure, you may seek right to use 4,000 sq feet are as your part (being equivalent to your share of 45% in the partnership) and probably the court would grant such interim relief pending hearing and final disposal of the suit for dissolution of partnership and your share in it.

Suggest to consult with a reputed civil lawyer, with whom you share this suggestion and proceed accordingly.

Best Regards.  

Indian Law

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Rajeev Dewal

Expertise

Indian Law relating to Banking and Financial Transactions. Kindly read instructions on "Ask the Question" page before asking a question. Kindly note that the replies here are by way of general information and not to be taken as legal advice nor the same form any client attorney relationship.

Experience

Over 20 years as In-House Counsel and banker with International, Private and Public Sector banks in India.

Organizations
Currently, Head- Legal, RBL Bank Limited, India (see web: http://www.rblbank.com/).

Education/Credentials
BSc, LLB, CAIIB.

Awards and Honors
University Prize- LLB Examination, Distinction- CAIIB.

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