(1.) BOTH the appeals have been preferred by appellants against order dated 22nd Feb. , 2000, passed by learned Judge in Application No. 6917/93 in C. S. No. 577/82. They were heard together and disposed of by this common judgment.
(2.) THE plaintiff, Ketan A. Shah, appellant in O. S. A. No. 99/00 preferred the suit for declaration that the partnership firm 'sapphire' of which he is partner shall be deemed to have been dissolved with effect from 27th Feb. , 1982 and also for rendition of accounts of the firm upto dissolution and also for consequential relief of allotment of plaintiff's share and profit. In the said suit, a preliminary decree was passed on 3rd July, 1989, whereinafter application No. 6917/93 was filed by plaintiff to pass a final decree in pursuance of the preliminary decree.
(3.) THE plaintiff, who was the applicant was in fact appointed as Receiver by order made by Bench on 23rd Aug. , 1989 and he took charge of the properties of the firm. Receiver filed application Nos. 6915 and 6916/93 seeking for a direction to the defendants to co-operate with the auditors and to furnish accounts and also for permitting the applicant to sell the property of the firm. By an order dated 11th April, 1994, the Court allowed those applications giving direction to the partner to co-operate with the auditors in preparation of final audited report and also permitted the Receiver to sell the property of the partnership firm, namely, the building situated in Anna Salai, Madras. It is pursuant to a direction of Division Bench in O. S. A. Nos. 168 to 170/94, the offers made by intending purchasers were placed before the Bench, which accepted the highest offer made by the Joint Secretary of a political party and the Receiver was directed to sell the property to the said party for a sale consideration of Rs. 6,12,00,000/=. Time was granted till 16th Sept. , 1994 for the purchaser to deposit the amount and to get the sale deed executed by the Receiver. The highest bidder deposited the amount with the Receiver and sale deed in respect of building bearing Door No. 614, Anna Salai, Madras, was executed by the Receiver in favour of the Joint Secretary of the political party, which was the highest bidder. The auditors, in the meantime, filed their report and the 3rd defendant filed objection to the final report of the auditor. The objections filed by some of the defendants were dealt with by the Court and they were allowed to peruse the record and other documents available with the Receiver and auditor and to submit their objections. Sale proceeds of the partnership firm, 'sapphire' with all its goodwill was deposited with the Court and other amounts were accounted for by the Receiver enabling the Court to come to the stage of passing the final decree by allotment of shares and profit due to the partners in accordance with shares held by them. The Court noticed the share of the partners as given in the annexure in the preliminary decree and the report submitted by the auditor.