My uncle’s business, running since 1985, sounded promising. He assured me of its profitability, and I joined without a formal valuation. However, after two months, I’m facing substantial losses. I want to leave the partnership, but we never formalized it legally. What should I do?

Indian law does not recognize partnerships without formal documentation. As your partnership was informal, you may not have legal grounds to withdraw. Seeking legal advice is crucial to understand your rights and options, as negotiating with your uncle directly might be your best course of action.