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S. H. KAPADIA
Anil Bansal – Appellant
Versus
Ashok Kumar Bansals – Respondent
JUDGMENT
Kapadia, J.-A partnership firm, M/s. Laxmi Fancy Stores had among others Laxmi Narayan Bansal, Om Prakash Bansal, and Jagdish Prasad Bansal as its partners. It carried on business from a shop owned by Laxmi Narayan Bansal located at Topi Bazar, Lashkar, Gwalior. The three partners were members of Hindu Undivided Family (HUF). They were occupying different portions of a residential house at 31, Dahimandi, Daulatganj, Lashkar, Gwalior. On 28th May, 1971 dispute arose between the parties in the matter of repayment of loan of Rs. 2,50,400/- owed by the firm to its creditors. By written agreement of even date, the partners appointed two arbitrators, Mattulal and Nathulal for decision on the said dispute. On 12th June, 1971 award was given by five arbitrators. The award refers to an oral agreement dated 9.6.1971 between the partners by which they had agreed to addition of three more arbitrators and to enlargement of the scope of reference by which the parties sought settlement of all disputes including dissolution of the firm, settlement of accounts, settlement of assets and liabilities as also settlement of disputes pertaining to the shop of Laxmi Narain and the ancestral house
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