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PAMIDIGHANTAM SRI NARASIMHA, ATUL S. CHANDURKAR
Singamasetty Bhagavath Guptha – Appellant
Versus
Allam Karibasappa (D) By Lrs. /Allam Doddabasappa (D) By Lrs. – Respondent
| Table of Content |
|---|
| 1. background of partnership and insolvency. (Para 1 , 2 , 3 , 4 , 5 , 6) |
| 2. district court ruling and annulment of insolvency. (Para 7 , 8 , 9 , 10) |
| 3. high court's judgment and reasoning. (Para 11 , 12 , 13 , 14) |
| 4. arguments regarding section 37 and conveyance validity. (Para 15 , 16 , 17 , 18 , 19 , 20 , 21) |
| 5. court's analysis and ratio decidendi. (Para 22 , 23 , 24 , 25 , 26) |
| 6. court's final decision on the appeal. (Para 27 , 28) |
JUDGMENT :
2. The facts relevant to the present appeals are that on 28.06.1963, a partnership in the name of M/s Gavisiddheshwara & Co. came to be constituted by late Sri Allam Karibasappa (the original applicant before the District Court) and Agadi Laxminarayana Setty, the convenor of the firm. The said firm was reconstituted with the inclusion of three more persons, namely, Singamasetty Subbarayudu (father of the present appellant), P. Govindappa Setty and T. G. Sathyanarayana Setty and a deed of partnership was entered. Sri Allam Karibasappa was a major partner in the firm, having a share of 8 anna in a rupee, and Sri Agadi Laxminarayana Setty had a share of five anna in a rupee. The remaining three partners had a share of one anna in a
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