Question ID :
40727
Expulsion of Partner.
Sirs,
Can two partners expel the third one (without following long time consuming proceedings of court) ? when there is no such provision in partnership deed. The third partner is doing illegal activities and acting against interest of firm. If any member has handled such case please let me know , I will contact him personally. Thanks
Posted by
RAM KUMAR SARASWAT
on
Jul 19, 2020
Filed Under
CORPORATE & OTHER LAWS
A partner may not be expelled from a firm by any majority of the partners, save in the exercise in good faith of powers conferred by contract between the partners.
The provisions of sub-sections (2), (3) and (4) of section 32 shall apply to an expelled partner as if he were a retired partner.
Posted by
Hari Beldona on
Sep 09, 2021