BALASUBRAMANIA AND CO Vs. M GOKILAMANI ETC

JUDGEMENT

(1.) TWO questions arise for consideration in these revision petitions, (1) What is the relevant date on which the rights of the parties should be determined and (2) whether the petitioners in C.R.P. 1247 of 1993 can be permitted to pay the amount due by them in instalments when there is no provision to that effect in the decree?

(2.) THE relevant facts can be stated very shortly as follows:? Disputes arose among partners of the partnership firm by name Balasubramania Foundry. THEre were five partners. THE matter went to the Supreme Court. THE Supreme Court referred the dispute to the arbitration of C.J.R. Paul, J. retired Judge of this Court. He passed an award on 3-4-1985. THE award was accepted by the Supreme Court and a decree was passed in terms of the award on 11-8-1987. Under the award, the business was to be taken by Sri Rangasamy, one of the partners who had a fifth share and Smt. Amsaveni Ammal and her daughters, who together had 2/5th share in the business. Thus, the persons to whom the business was allotted had 3/5 share. THE other two partners were Palaniappan having 1/5 share and Doraisamy having another 1/5 hare. THE relevant part of the award read thus:?

(3.) THE executing Court rejected the contention of the outgoing partners and held that on a construction of the award, the partners to whom the business is allotted therein will be exclusively entitled thereto only from the date of their taking possession and consequently, the assets and liabilities of the firm should be worked out only as on that date. In this case, the executing Court has fixed that date to be 31-7-1992 in view of the fact that the Commissioner appointed by the Court had looked into the accounts and submitted a report after evaluating the value of the assets. Aggrieved thereby, the petitioners in C.R.P. Nos. 1134 to 1136 of 1993 and the petitioners in C.R.P. 1245 and 1246 of 1993 have preferred the above revision petitions. THEy are also aggrieved by the permission granted by the executing Court to the petitioners in C.R.P. No. 1247 of 1993 for paying the amount due by them in instalments.