1975 Supreme(J&K) 15
IN THE HIGH COURT OF JAMMU AND KASHMIR AT JAMMU
Mufti Baha-ud-Din Farooqi, J.
Prem Parkash Kapoor - Appellant
Versus
Gobind Ram Kapoor & Ors. - Respondent
COS No. 50/1974
Decided On : 22 January, 1975
Advocate For Appellant: Bhagirath Dass
Advocate For Appellant: J.N. Bhan
Advocate For Appellant: M.L. Bhat
Advocate For Respondent: K.N. Raina
Advocate For Respondent: S.P. Vohra
(7) The partnership shall be deemed to have started from 1-4-1969 and shall be partnership at will.
(8) All partners except Shri Romesh Chander Kapoor (party of the sixth part) shall be actively engaged in the partnership business. Party of the sixth part i. e. Shri Romesh Chander Kapoor being engaged in Army service shall be a sleeping partner only.
(10) That the partnership shall be liable to be determined by any party hereto giving a notice in writing not less than three months before the expiry of the account year and by virtue of the aforesaid notice the partnership shall stand determined on the date of expiry of its then current financial year. Provided that in case any partner retires during the currency of any year the proportionate share of profit or loss upto the date of retirement shall be determined proportionately in accordance of the profit or loss of the last preceding year.
(12) That all necessary and proper books of accounts shall be kept by the partnership and shall not be removed from the place of business without the consent of all the partners. The account books shall be open to inspection by each of the partner who shall be entitled to take such extracts there form as they think fit.
(13) The books of account of the partnership business shall be closed on the last day of March every year when a profit or loss account and balance sheet be prepared. The resultant profit or loss shall be adjusted in the personal accounts of the partners in accordance with the terms of this partnership deed.
(14) All other matter not sufficiently covered by the above clause shall be decided by the mutual consent of the partners."
(2) Basing his claim on the aforesaid partnership deed the plaintiff has instituted this suit on 28-9-1974 against the defendants for declaration that he is a partner of the firm and for injunction restraining the defendants from interfering with his right to participate in the partnership business as also for rendition of accounts; past, present and future. The plaintiffs case is that his capital investment in the firm was Rs. 25,000/- which he paid by cheques and later on invested further sums on different occasions either by cash or cheques which raised his capital investment to more than Rs. 50,000/- and when added by the profit, that has accrued to him during the last five years, his investment in the firm amounts to more than rupees two lacs. His further case to that he is entitled to participate in the affairs of the firm as also to know the details of business accounts, stocks and other things connected therewith but, says he, he could not exercise this right as a private trip carried him outside the State and when he returned, the defendants refused him access to the accounts and did not also allow him to participate in the management of the business and when he issued notices to them to concede this right of him, he was told to his surprise on August 13, 1973, by letter addressed to him by defendant No. 4, that he had ceased to be a partner from April 1, 1973. He adds that he approached his father, defendant No. 1 for an amicable settlement who agreed to refer the matter to arbitration and infact executed an arbitration agreement designating Shr