GURU NANAK INDUSTRIES, FARIDABAD AND ANOTHER VERSUS AMAR SINGH (DEAD) THROUGH LRS
Supreme Court of India (Full Bench (FB)- Three Judge)
Appeal (Civil), 6659-6660 of 2010, Judgment Date: May 26, 2020
NON-REPORTABLE
IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NOS. 6659-6660 OF 2010
GURU NANAK INDUSTRIES, FARIDABAD AND ANOTHER ..... APPELLANT(S)
VERSUS
AMAR SINGH (DEAD) THROUGH LRS ..... RESPONDENT(S)
J U D G M E N T
SANJIV KHANNA, J.
Four persons, including two brothers, Swaran Singh and Amar Singh, both of whom have since died and are represented by their legal representatives, had constituted a partnership firm – Guru Nanak Industries, on 2nd May 1978. On 6th May 1981, a fresh partnership deed was executed between Swaran Singh and Amar Singh as the other two partners had resigned. The partnership firm was primarily in the business of manufacture and sale of print machinery for paper, polythene etc. Initially, profits and losses Signature Not were to be divided in the ratio of 69:31 between Swaran Singh and Amar Singh. However, with effect from 1st April 1983, profit and loss sharing ratio was altered between Swaran Singh and Amar Singh to 60:40 respectively.