M.L.BHAT, S.M.RIZVI
Tilak Chand Jain – Appellant
Versus
Darshan Lal Jain – Respondent
1. In a suit pertaining to partnership concern known as Messrs kingsway, Veer Marg Jammu a learned Single Judge of this court (Kotwal J) has passed an order on 30-5-1983 in an application for appointment of a Receiver moved by the plaintiff. The learned single judge has directed the defandants respondents herein to furnish security in the amount of Rs 1,50,000/- to the effect that in case the plaintiff succeeds in the suit the surety shall be liable to pay to him any amount upto the maximum amount of Rs. 1,50,000/- failing which the deputy registrar was directed to attach the goods lying in the shop and other godowns of the firm to the extent of Rs. 1,50,000/-and after putting the goods on sale, the sale proceeds were ordered to be deposited in same Bank in the name of the Dy. Registrar, High Court. The amount was to be distributed in accordance with the decree that would eventually be passed finally in the suit.
2. This aforesaid direction proceeded on the assumption that after dissolution of the firm indispute, the assets of the firm have not been distributed in accordance with sections 46 and 48 of the partnership act The learned single Judge has taken the view that pr
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