Plaint

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 February 2017 Respected sir ,
I request for your help in filing a plaint in the matter with following facts. -
X, Y and his daughter Z respectively carried on business in partnership named X & Y Resorts and Hotels. They agreed to reconstitute the partnership with effect from 1stApril 2003. It was agreed that Ms Z upon attaining majority will retire from the partnership business and that she will be relieved off from all the liabilities of the Partnership. Ms. Z had attained majority in 1st February 2003.
However, there was a dispute going on between another firm Ms. R & K Caterers for recovering the amounts due from X & Y Resorts and Hotels. And the former firm had filed a suit against the latter on 1st February 2003 for recovery of amount due. Ms. Z was also made a party to the suit. Ms. Z being a minor was not involved in the decision making or any working of the firm as such.
However, when she came to know about the suit filed against her, she claimed that she cannot be party to the suit and that she is not liable to be made a party to the suit. X contended that she has enjoyed the profits of the firm and now she should also bear the liabilities, and moreover, the services that were consumed by the firm from Ms. R & K Caterers were used when she was still the partner of the firm.
Ms. Z has approached you for consultation on filing a suit against X & Y Resorts and Hotels.

I would be grateful if you could help me file a plaint for this matter on behalf of Ms. Z

Sandeep Dharar

Sandeep Dharar (Expert)
Follow

07 February 2017 As per the information z became major on 1st Feb 2003, so as per the previous agreement she must get retired as on that date and there should b revision in the agreement on that date only. The most important thing u must know is that, If a minor is admitted to a partnership firm then he/she is only liable for profits from the firm and not of any loss. So in both the situation Z is not liable for any compensation which arises to the firm.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

07 February 2017 Thank you so much sir for reply.

Sandeep Dharar

Sandeep Dharar (Expert)
Follow

07 February 2017 U r welcome. If u like my reply then u may show ur appreciation by hitting the like button.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now