RAMAR COIR INDUSTRIES Vs. DHANA NATARAJAN

JUDGEMENT

(1.) This Appeal was originally filed by the Defendants 1 to 3 in O.S. No.719 of 2011 on the file of the V-Additional District Judge, Coimbatore, a Suit for Dissolution of the 1st Defendant, Firm at the instance of one of its Partners, the Plaintiff.

(2.) Since the Second Appellant died pending Appeal, his Legal Representatives were brought on record as Appellants 4 to 6. The parties will be referred as per their rank in the Trial Court for the purposes of convenience.

(3.) The Plaintiff sued for dissolution of the 1st Defendant-Firm contending that the Defendants 2 & 3, who were in-charge of the affairs of the Firm had been keeping her way from the business and have been indulging in acts of mismanagement. According to the Plaintiff, the 1st Defendant-Firm was started on 23/1/1974 with the Defendants 1 & 2, the Plaintiff, one Nanjappan and one Palasseri Prabhakaran Nair as a Partners. The capital of the Firm was Rs.90,000..00 While the Defendants 1 & 2 contributed a sum of Rs.12,500.00each, the Plaintiff contributed a sum of Rs.20,000..00 The Firm was originally engaged in Coir business. Subsequently, one of the Partners, Palasseri Prabhakaran retired from the Firm. After his retirement, a Deed of Reconstitution was entered into amongst remaining Partners namely, the Plaintiff, Defendants 1 & 2 and Nanjappan on 1/1/1978. The capital of the Firm, was increased to Rs.2,90,000..00 Each of the Partners contributing a sum of Rs.72,500..00 The business of the Firm was also changed, Godowns were constructed in the land belonging to the Firm and they were let out to various persons.