SUPRABHAT SAHKARI BANK LIMITED Vs. STAR POLYFIBRE INDUSTRIES

JUDGEMENT

(1.) . The present petition is preferred by the petitioner challenging the order of the Gujarat State Coop. Tribunal so far as it relates to direction No.3 of the operative portion of the order, whereby the Tribunal has observed that the plaintiff bank shall recover the due amount only from defendant No.1 firm and there is no personal liability of the partners of the defendant firm.

(2.) . I have heard Mr.Nanavati, learned Counsel for the petitioner and Mr.Gandhi, learned Counsel appearing for the respondents.

(3.) . Mr.Nanavati has submitted that as per the law, if any loan is taken by the partnership firm and decree or award if passed, the same can also be executed from the personal property of the partners, since the partnership firm has no legal entity and the partners of the firm are personally liable for any transaction entered into by the firm and, therefore, he has submitted that the matter deserves to be allowed.