SRI VENKATARAYA S NAYAK Vs. D VIJAYGOPAL MALLYA

JUDGEMENT

(1.) This is the defendant's appeal against the decree and judgment passed in RA No.126/2004 on the file of II Addl. Civil Judge (Sr. Dvn.) Hubballi dtd. 12/12/2006.

(2.) I refer the parties as per their rankings before the trial Court, for the sake of convenience.

(3.) To dispose of this appeal, brief facts of the case of both the parties before the trial Court were as under: It was the case of the plaintiff that he has been running the business of "Glow Sign Boards and Labels". The defendant joined the said business as working partner without any investment and a formal partnership deed was entered into between the parties on 1/12/1998. Entire capital of Rs.2,50,000.00 has been contributed by the plaintiff and 30% of the profit of the business was agreed to be shared with the defendant and 70% of the profit has to be paid to the plaintiff. The said partnership business was running in the name and style of M/s Vinyl Prints and Designs.