RATAN LAL GOENKA Vs. MADHAB PRASAD GOENKA

JUDGEMENT

(1.) This appeal by certificate is against the judgment of the Division Bench of the Calcutta High Court dismissing the appellant's appeal against the judgment of a learned single Judge who upheld the right of the first respondent to execute a compromise decree.

(2.) The facts relating to the matter may be set out in a short compass. Four persons, including the first respondent, founded a partnership under the name of "Sadhuram Tularam". They were also the managing agents of two private limited companies, Shree Radhakissen Cotton Mills Co. Ltd and Goenka Properties Ltd. On the death of one of the partners in 1940 his son the first respondent, became a partner of the firm. In September 1948 the first respondent filed suit No. 3059 of 1948 for dissolution of the partnership Pending the suit a sum of Rs. 9,09,500/- was adjusted by transferring certain properties to the first respondent. On 7-8-1951 the suit was decreed in terms of an agreement, the relevant parts of which we are setting out below:

(3.) The first respondent filed a reply affidavit the relevant portion of which reads: