...award in question. By the award the arbitrators have distributed the assets of the dissolved firm between the partners in accordance with their respective shares in the partnership. The real question for...Registration Act. A perusal of the award shows that it is simply a case of distribution of assets of the dissolved firm amongst the partners themselves. A partnership firm is not an independent legal entity...as per their respective shares in the partnership firm. Thus, on dissolution of a partnership firm, the allotment of assets to individual partners is not a case of transfer of any assets of the firm...

...principle of Cruikshank's case(1) did not apply, because the partnership agreement in this case itself provides that the book value in the books of the firm shall be accepted...incorporated the partnership agreement, was to value the net assets of the firm and to award to the retiring partners a share therein. In making the "valuation of the firm". his jurisdiction was...firm at Rs.32 lakhs including in that amount the "depreciation and appreciation of the property, dead stock and dues to be recovered." The award was filed in the 1...

...along with the amount of Rs 5,24,000 in terms of the award dated 11-3-1993. Further, a sum of Rs 47,50,000 was paid to one Mr Kirti Desai to settle the suit filed by him. The partnership firm entered...of Rs 1,25,00,000 as capital contribution. By award dated 11-3-1993, Ms Jaykirti Mehta was directed to stand retired from the partnership firm. It was agreed that after retirement of Ms Mehta, other...partnership without contribution to capital construction. On 7-4-1998, five flats were sold to the creditors of the partnership firm in order to repay the loans and excess amount was paid to the firm. In...

...of a partner in a firm dying or retiring shall not survive to his legal representatives. Bachubai and L.A Watkins case arose out of a case in which in the partnership agreement it was provided that the...that the plaintiffs were not entitled to an account in the profits and losses of the firm after the death of Boatwalla, nor to exercise an option under Section 37 of the Partnership Act, but...share in the assets of the firm other than goodwill: they contend that in the goodwill of the firm the plaintiffs had no share.3. By Section 14 of the Partnership Act...

...independent rights of their own under the award in the properties allotted under the schedule and hence it is not a case purely of assignment of the shares in the partnership but it confers exclusive...allocation of properties owned by partnership firm on dissolution to the erstwhile partners is not partition of immovable properties. In this connection, learned counsel for the respondents placed reliance on...benefits of partnership. Such a minor is given a right to his share of the property of the firm and also a right to share in the profits of the firm as may be agreed upon but his share is made liable for...

...recoveries of monies from the debtors of the firm and, therefore, this was a case of specific entrustment. All that he could point out was Item 15 in the minutes of that meeting which runs thus..., Indian Penal Code on the ground that his failure to account for monies belonging to the firm in which he was a partner amounts to criminal breach of trust.2. The...partners and the appellant was its working partner. This firm was constituted in the year 1954. But on February 6, 1957 three of the partners retired and the business was continued by the remaining five...

...is not even the second appellant's case that he was ever in the employment of the first appellant firm but was at all material times a partner thereof. Even if the first appellant held a valid driving...viz. whether the driver was in the employ of the insured. It completely overlooked the second clause that the driver, Appellant 2 was driving with the permission of the insured, the firm in this case...appeals are by the firm, owner of the vehicle which was involved in the accident and one of its partner who it was alleged was shown to be driving the vehicle at the time of the accident and while...

...from a contract or conferred by the Partnership Act unless the firm is registered and the person suing is or has been shown in the Register of Firms as a partner in the firm. Sub-s. (2) similarly...) for the realisation of the property of a dissolved firm. The emphasis in each case is on dissolution of the firm. Then follows a general exclusion of the section. The fourth sub-section says that the...not registered- Application in the High Court for appointment of arbitrator- If maintainable-Interpretation of statute-Ejusdem Generis- Noscitur a sociis-Indian Partnership Act, 1932 (9 of 1932), s. 69...

...receiver during the pendency of the suit to manage the firm.5. The case of the plaintiffs, as set out in the plaint, in brief, is as under. A partnership firm in the name and...also subsequently became a partner of the firm by making investments and a deed of partnership was executed on 20-12-1972. The partnership was reconstituted on 21-5-1976, in which the share of Shri...Rajendra Prasad Singh had predeceased him.6. The case of the plaintiffs further is that the defendants fraudulently executed another partnership deed on 17-2-1992, in which...

...) the award seeks to assign the respondent's share in the partnership to the appellant and so does not require registration; and (3) under Section 17 of the Arbitration Act, the Court was...respondent, interpreted in the aforesaid sense, to the appellant in express words. Nor such is the necessary intendment of the award. It expressly makes an exclusive allotment of the partnership assets...gave their award on September 20, 1963. They filed the award in the High Court on November 9, 1963. On September 10, 1964 the respondent filed an application for determining the validity of the...

...:“That all the disputes touching the affairs of the partnership firm shall be referred to arbitrator in accordance with the provisions of the Indian Arbitration Act and the award of such arbitrator....28. In the instant case, the appellant being the only son of his deceased mother, is undisputedly a partner in the partnership firm with the respondents especially where the dispute concerning the.... According to him, the rights of the appellant as legatee/legal representative of Dulari Devi are conditioned by Section 29 of the Partnership Act and in case if Section 40 of the Arbitration and...

...on 10-12-1949. During the years from 1973 to 1980, the firm obtained three mining leases from the State Government. The partnership firm was reconstituted in the year 1980, taking in some additional...term of 10 years. Thereby, the appellant was engaged as a raising contractor in respect of the mines for which the firm had obtained leases from the State Government. On 25-3-1991, the firm executed...nominating Mr Sanjeev Jain as its arbitrator in terms of the arbitration agreement.6. It is seen that the respondent firm, for reasons best known to itself, sought for and...

...69 of the Partnership Act. In the instant case, Seth Sugan Chand had to admit in unmistakable terms that the firm “Sethiya & Co.” was not registered under the Indian Partnership Act. It cannot...agreement with Sethiya & Co., a partnership firm of the plaintiff and Seth Sugan Chand. Under this agreement which was originally meant to last for five months but which was allowed to remain in force...dissolution of the firm, neither Seth Sugan Chand was a necessary party to the suit, nor was the suit barred under Section 69 of the Partnership Act ; that the alterations in the deed of agreement dated July 6...

....(ii) The dissolution of the partnership of the dealer's firm or the death or adjudication as insolvent of any partner of the firm if the dealer be a firm...representation made by the appellant herein that the firm had certain outstandings in the market which were in danger of becoming unrecoverable, “if the supplies were suddenly stopped”. The respondent agreed to...of the partnership firm and while handing over the said notice, the staff members thereof were forcibly ousted from the business premises.7. The writ petition filed by the...

...scope of Section 433(f) of the Companies Act, 1956 (briefly the Act) and in particular whether the principles applicable in the case of dissolution of partnership could be invoked in the case of...disclosed in the petition, dissolution would have been ordered by the court under Section 44 (g) of the Partnership Act. A case for winding-up has been, therefore, prima facie, made out by the...could be fairly called a partnership in the guise of a private Company then the things which might be a ground for dissolution of a partnership will apply also in the case of a private Company and that in...

...subsequently on the firm itself?(3) Whether, on the facts and in the circumstances of the case, the profits were assessable in the assessment year 1952-53 and, if not, whether they were...instance of the assessee. The assessee is an unregistered firm. It was constituted under an oral agreement of partnership sometime in March, 1946, between three persons, namely, Amin, Valia and Kharas...1953-54 on 4th November, 1953, he did not include his share of the profit from the partnership of Associated Commercial Corporation which he had received under the award in the accounting year 1952-53...

...244, AIR 1970 SC 833 this Court found that in case the award, if it creates for the first time a right in the immovable property of the value of Rs 100 or above, in the absence of its registration, the.... 790) the deed of relinquishment was accepted by one partner in favour of the other partners in the partnership firm including immovable property. This Court held that the deed of relinquishment was in...respect of individual interest of a partner in the assets of the partnership firm including immovable property was valid without registration. All the assets of the partnership firm vested in the new...

..., on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the sum of Rs. 1,48,24,876 became taxable in the hands of the firm which according to the assessee stood...Tribunal is right in law and on facts, in holding that the award amount of Rs. 1,48,24,876 is not taxable in the hands of the assessee firm under the provisions of s. 176(3A) r/w s. 189(1) of the Act...facts as appear from the statement of case and found by the Tribunal may be noticed at the outset. M/s Banyan and Berry was a partnership firm under a deed of partnership executed on...

...written statement could arise only after the order of reference. Another ground is raised in support of this contention that the terms of partnership do not contemplate dissolution of the firm “at...this contention in this case when the partners sought for dissolution of the partnership on various grounds enumerated in Section 44(c) to (f) (sic) may also be sufficient and may not be necessary to...S. Rajendra Babu, J.— A partnership firm, M/s V.H Patel and Company, was constituted consisting of four brothers, namely, Jamnadas Himabhai Patel, Vallabhbhai Himabhai Patel...