Partnership conflicts
Sir my wife me and another partner have 1/3 share each
The partnership deed is simple all are working partners and we are into manufacturing of plastic films and employ 34 people.
My other partner had been not cooperating in the last four months as he refused to sign cc renewal papers and insisted to sign only if his mothers deposit is settled and then when the bank stopped operations he threatened us that he would sign only if articles of association was in place and a clause was added that in his absence his mom attends firm activities
Company activities had stopped and we had communicated to our clients the inability to supply owing the dispute. He had subsequently signed the bank papers and there after communicated all clients to ignore the previous mails and contact him
He approached our auditor who informed him he could take in his new partner after settling us. We however agreed to allow him to run the operations while i kept authorization of finance verbally to fecilitate no jobs are lost for employees and to cater clients orders. However when the lockdown was announced he stopped operations and stopped attending phone calls from clients and other suppliers
I had initiated payments subsequently and was following up recievables making statutory payments and closing liabilities.
He locked the premises and insists on retriement agreement which terms and conditions he had taken a different stand that he doesn't plan to run and he has set up his own business
I am neither allowed to work nor allowed to operate. And my consulting with lawyers here yielded no results which would help me to run the company by restraining him..
We have lost otders and employees have started leaving the firm. I am 52 just recovering from a heart attack and he is not attending any calls or allowing us to fo work
Seeking your advise on this regard
Regards
Sampath kumar