K.SELVAKUMAR Vs. G.SUTHAKAR

JUDGEMENT

(1.) These applications stem out of a partnership agreement dated 14.10.2017 and a Limited Liability Partnership Agreement (LLP Agreement) dated 28.09.2018 entered into between the first applicant in OA Nos.551 and 552 of 2019 and the respondent therein. By a supplementary LLP Agreement dated 12.10.2018, the applicants 2, 3 and 4 in OA No.552 of 2019 were added as partners in the Limited Liability Partnership Firm. While OA Nos.551 and 552 of 2019 had been filed by the applicants seeking aforesaid relief of injunction, OA Nos.591 and 592 of 2019 have been filed by the respondent in OA Nos.551 and 552 of 2019 seeking injunction. All these applications have been filed under Section 9 of the Arbitration and Conciliation Act.

(2.) The brief facts that led to the dispute are as follows: On 14.10.2017, a Partnership Deed was entered into between the first applicant in OA Nos.551 and 552 of 2019 and the sole respondent therein constituting a partnership business in the name of "New Pattukottai Kamachi Mess"? with an object of setting up a chain of restaurants and eating houses. The Principal place of business is at New No.4, Dr.Singaravelu Street, T.Nagar, Chennai 600 017. As per the said partnership agreement, the capital of Rs.20,00,000/- was agreed to be provided by the first applicant in OA Nos.551 and 552 of 2019. The sole respondent was designated as a working partner and it was agreed between the partners that future capital requirements shall be brought in by the party of the first part therein, namely, the first applicant in OA Nos.551 and 552 of 2019. The other finances required for the partnership firm from time to time is agreed to be contributed by the parties in equal proportion or in the manner as may be mutually agreed upon by the partners. It was also provided that partners will be entitled to interest at the rate of 12% per annum or at such rates, as may be prescribed under Section 40 (b) of the Income Tax 1961.

(3.) The respondent was required to be incharge of the recipe and cooking at the restaurants. The said deed also provided for a minimum of 3 months' notice by a partner who desires to retire from the Partnership firm. The Partnership was at Will. The good will of the retiring or deceased partner or partners shall be decided by mutual consent of other partner/s the Deed also contained an Arbitration Clause.