Karan, Nakul, and Asha are partners in a firm and do not have a Partnership Deed. Karan introduced a further capital of ₹ 2,00,000 on 1st October 2022. Whereas Asha took a loan of ₹ 50,000 from the firm on 1st October 2022, Disputes have arisen among them on the following issues:

(i) Karan demands interest @ 10% p.a. on ₹ 2,00,000 being his extra capital.

(ii) Nakul desires that his son Deep should be admitted as a partner and he will give him half of his share. Karan and Asha do not agree.

(iii) Karan and Nakul are of the view that Asha should be charged interest on loan from the firm at the lending rate of banks, which is 12% p.a.

(iv) Nakul has withdrawn ₹ 50,000 from the firm for his personal use. Karan and Asha are of the view that Nakul should be charged interest @ 10% p.a.

You are required to give a solution to each issue of dispute.

Anurag Pathak Changed status to publish April 14, 2023
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