...on November 27, 1958 and allowing the appeal from the decree by giving the defendants credit for the payment of Rs 19,000 on December 31, 1953 towards the mortgage bond.2...and costs on the basis of a mortgage bond dated January 1, 1948 executed by the first defendant and his sons Defendants 2 to 4 in favour of the plaintiff firm. The principal sum secured Rs 17,500 was...sum of Rs 27,995-11-0 and interest. The plaintiff firm in para 8 of the plaint further alleged that on January 12, 1955 the first defendant acknowledged in writing on the mortgage bond liability for...

...daughters to 1/16th share. The profits and losses of the partnership business, however, were to be divided in equal shares between all the three partners. The assessee was the managing partner of the...was agreed that the first partner (assessee) would gift a sum of Rs 25,000 to each of his two major daughters. The property of the business was next described. It was stated to consist of the land...is of particular importance. According to clause 2(a) if the partners or partner who, for the first time, represented or possessed the major part in the value of the capital of the business desired...

...signed the bond on his own behalf and as the agent of his partner, the second defendant (assuming-the first and second defendants were partners.) The law is thus laid down in Lindley on Partnership...1. The plaintiff alleges that the 1st and 2nd defendants were partners and that they borrowed from the plaintiff the amount for which the bond was given. 2. The bond was..., Edition 7 on page 207: "If therefore a partner only enters into written contract the question whether the contract is confined to him or whether it extends to him and his co-partners, cannot be...

...supply of goods or for the rendering of any service; (viii) by way of subscription to any share, stock, bond or debenture (such bond or debenture being secured by a charge or a lien...on the assets of the company) pending the allotment of the said shares, stock, bond or debenture, or by way of advance payment of any moneys uncalled and unpaid upon any shares in the company, if such...'. (a) ........... (b) in the case of any firm, any payment of interest, salary, bonus, commission or remuneration made by the firm to any partner of the firm...

...of Union Territory of Delhi, Chandigarh, Haryana and Punjab with Head Office at Delhi. The plaintiff was appointed as a Managing Partner by all the partners of the aforesaid firm and he has been...been reposed in him by the defendants in performance of his duties as managing partner of the firm and have asserted that he has been acting in a manner prejudicial and detrimental to the partnership...and carried on by Shri Amrit Kumar Sanghi — defendant No. 1, who has been working as its Managing Director while the plaintiff has been working as the Managing Partner of the partnership firm...

...partner of a trading firm which carried on business unde the name of “Lal Chand Dugar.” Ridkasan had also his own business which he carried on in the name of ‘“Begraj Dugar.” In this business Ridkaran had...) Ridkaran was, at all material times, a partner of the firm, (iii) he had in fact authority to borrow, (iv) Ridkaran borrowed the money purporting to act on behalf of the firm, (v) he utilised the money in...behalf of the firm. In a trading partnership, any partner has implied power to borrow money.One of the most important of the implied powers of a partner is that of borrowing money on the...

...expenditure of Rs. 6,85,602 incurred by the assessee on foreign studies of the partner.2. On the facts and in the circumstances of the case and in law the learned CIT(A) ought to...and also the fact that Shri Adarsh Hathi was the partner of the assessee’s firm styled as M/s. P.C. Hathi, and has objected to the order of the CIT(A) whereby he has allowed expenses incurred by the...firm towards education i.e. for procuring degree in Business Management in law in USA, by the partner Shri Adarsh Hathi, on the ground that assessee’s claim that procuring of this degree was...

...is any liability, remaining, for the respondent's husband, the licence need be issued only on clearing the same. In other words, the licence need not be issued after receiving indemnity bond from the...vigilance case pending with regard to the reconstitution of another partnership firm.3. Neither the Managing Partner of the petitioner firm nor the existing partners of the reconstituted firm...which conducts Aramana Bar are accused in the vigilance case. The partnership firm which conducts Aramana Bar was reconstituted on the death of one partner and three others were inducted in place of...

...partner on dissolution of partnership cannot be said to be covered by the surety bond Annexure A-1. The learned Judges of the High Court have taken the view that in substance the surety bond Annexure A-1...yarn and fishing requisites in favour of Defendant 2 represented by G. Subbarao, the other partner. This finding flies in the face of the express terms of the guarantee bond Annexure A-1 and with...guarantee bond from the 1st defendant-insurance company for the due payment of Rs 1,25,000 from out of the said amount of Rs 1,68,499.32. Accordingly at the request of the 2nd defendant, the 1st defendant...

.... Now, the Deputy Commissioner is so far right in his view of the law that no partner has a right to transfer his share in the partnership to a stranger without the consent of the other partners. (See...between those parties and the other partner or partners, as to cause an immediate dissolution of the partnership. 11. In other words, one partner cannot by assigning his share make any...one else a partner in his stead with his co-partners; and therefore upon his assigning his share the partnership ceases to exist, unless the other partners consent to accept the purchaser as a partner...

... Versus 1. M/s Royal Empire (Project Royal Apartment), through its Director/Partner/Proprietors, # Peer Muchhalla (Adjoining Sector-20, Panchkula), Zirakpur, District SAS Nagar..., Mohali, Punjab. 2. Jiwan Garg, Director/Partner/Proprietors in M/s Royal Empire (Project Royal Apartment), through its Director/Partner/Proprietors, # Peer Muchhalla (Adjoining Sector...-20, Panchkula), Zirakpur, District SAS Nagar, Mohali, Punjab. 3. Prince Garg, Director/Partner/Proprietors in M/s Royal Empire (Project Royal Apartment), through its Director/Partner...

...redemption payment of fine of Rs. 2 lakh. The entire DEPB credit was denied and penalty of Rs. 1 lakh was imposed on M/s. Nangalia Impex and its partner Shri Vimal Kumar Nangalia under...Tribunal.2. No one appeared for the appellants.3. From the ground of appeal it is seen that the partner had not admitted the declared inflated...FOB value. It has been argued that the partner had only accepted the DEPB credit at 150% of the AR-4 value as C.B.E. & C. Circular permitted the difference between AR-4 and FOB value to be up to 150...

... 2 3. In the suit proceedings, the issue as regards the maintainability of the suit was raised on the ground that a partner of an...). The issue involved is whether a partner of an unregistered firm can maintain a suit against the other partner. For the sake of convenience, Section 69(1) of the Act is extracted hereunder...Court by or on a behalf of any persons suing as a partner in a firm against the firm or any person alleged to be or to have been a partner in the firm unless the firm is registered and the person...

...Nagar, Mohali through its Partner Arun Jindal. 2. Arun Jindal, Partner, M/s Citi Centre Developers, VIP Road, Zirakpur, Tehsil Derabassi, District SAS Nagar, Mohali.... 3. Pankaj Gupta, Partner, M/s Citi Centre Developers, VIP Road, Zirakpur, Tehsil Derabassi, District SAS Nagar, Mohali 4. Hardish Sharma, Vice President of M/s Citi Centre...-Arun Jindal and JD No.3-Pankaj Gupta are discharged in this case only. Personal bond and surety bond furnished in this case are released. (H.P.S. MAHAL...

...M/s.Balwant Singh & Sons Versus National Insurance Co.Ltd. & Ors Present:- Sh.Arvinder Singh, Partner of M/s.Balwant Singh & Sons/DH's Firm along-with Counsel Sh.Vikas Sharma..., Advocate. Sh.Raman Kumar Sharma, Advocate Counsel for JD No.1. Statement of Sh.Arvinder Singh, Partner of M/s.Balwant Singh & Sons/DH's Firm along-with Counsel.... National Insurance Co.Ltd.drawn on Kotak Mahindra Bank, Kolkata as full and final settlement of his claim in the present execution and has also given an Indemnity Bond of the like amount to the JD No.1...

...Sector 20, Panchkula), Zirakpur, District Mohali (India) through its partner. 2. Sh. Ashok Singla, R/o Kothi No.11, MS Enclave, Near Saint Soldier School Dhakoli (Zirakpur)- present...partner M/s Royal Mansions, presently residing at H.No.12A, Panchkula. 3. Sh. Surinder Bansal, R/o H.No.1416, Sector 40B, Chandigarh (Present partner M/s Royal Mansions...) 4. Smt. Promila Singla W/o Sh. Ashok Singla, R/o Kothi No.11, MS Enclave, Near Saint Soldier School Dhakoli (Zirakpur)- (Present partner M/s Royal Mansions). 5. Sh...

... 1. M/s Royal Mansions, Peer Muchhala, (Adjoining Sector 20, Panchkula), Zirakpur, District Mohali (India) through its partner. 2. Sh. Ashok Singla, R.../o Kothi No.11, MS Enclave, Near Saint Soldier School Dhakoli (Zirakpur)- present partner M/s Royal Mansions, presently residing at H.No.12A, Panchkula. 3. Sh. Surinder...Bansal, R/o H.No.1416, Sector 40B, Chandigarh (Present partner M/s Royal Mansions) 4. Smt. Promila Singla W/o Sh. Ashok Singla, R/o Kothi No.11, MS Enclave, Near Saint...

...opposite party No. 2 describing him as a partner in respect of the business of Customs Clearing and Forwarding Agent etc. in the name and style of New India Corporation. It is alleged by the...the complainant and his two witnesses. Mr. Banerjee contends that the law is well settled that one partner cannot proceed against another partner on a charge of criminal breach of trust. Since the...concept of ‘fiduciary relationship’ cannot be said to exist in relation to property owned by the partnership firm and as one partner has as much right to the partnership property as any other partner, the...

...Registered Office at H.No.909 Sector 9, Panchkula, Site Office at Peer Muchhalla, Zirakpur, SAS Nagar, Mohali through its Director/Authorised Signatory/Partner. 2. The Director.../Authorized Signatory /Partner, M/s Royale Empire, having its Registered Office at H.No.909, Sector-9, Panchkula. Site Office at Peer Muchhalla, Zirakpur, SAS Nagar, Mohali. 3. Jeewan Garg...S/o Atma Ram Garg, Director/Authorised Signatory/Partner, M/s Royale Empire, having its Registered Office at H.No.909, Sector-9, Panchkula, Site Office at Peer Muchhalla, Zirakpur, SAS Nagar, Mohali...

...price of the said house and Shri Kartar Lal paid half of the price of the said house in the shape of claim bond and cash. The price of the said house was contributed half and half by both of them. Though...to an end. It cannot be said to convey any immovable property by a partner to another expressly or by necessary implication, nor is there any implication. It was held that such a deed was not.... 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...