Apni Law Staff asked 4 months ago
My father, who’s 70, and I, at 38, have been running the family construction business since I was a kid. Lately, things haven’t been good. He’s getting older and finding it hard to manage everything. I’m eager to help, but he’s reluctant to share the business or let me take a bigger role. I can’t even get a loan because I’m not officially part of the company. Is there any legal way for me to become a partner in the firm?
Best Answer
Apni Law Staff answered 4 months ago
Under Indian law, you have a few options. You could negotiate a partnership agreement with your father, or if he’s unwilling, you could explore seeking a court order for a partition of the business assets, potentially leading to you taking a share. However, the specifics depend on the nature of the business and any existing agreements. Consulting a legal professional would provide the best guidance.
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