M.L.CHATURVEDI
New India Tannery Kanpur – Appellant
Versus
M. P. Nigam – Respondent
2. The facts of the case in brief are that a concern known as the Saghir Tannery of Kanpur owned machinery and some other property. The Saghir Tannery found itself in difficulties as it had to pay a sum of about Rs. 92,000/- to a bank and certain sums to a number of other of editors. The Saghir Tannery was a private limited company and the company consisted of two individuals, Mohammad Ibrahim and Jan Mohammad, who were also its Managing Directors (as appears from the copy of the sale deed filed by the petitioner in this case).
These two persons executed a registered sale deed in favour of Abdul Qaiyum and Altaf Ahmad on 30-5-1950 for a sum of Rs. 1,40,000/-. The amount, it appears, was duly paid by the purchasers, who got possession of the property sold. These two purchasers then entered into a partnership with Elahi Bux and admitted also a minor Khurshid Ahmad to the benefits of the partnership. This partnership thus consisted of four persons and it commenced its business on 8-1-1951.
A duly signed partnership deed was executed on 10-1-51. The partnership took on lease from Abdul Qaiyum and Altaf Ahmad the machinery and
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