ZENOBIA POONAWALA (NEE JINWALLA) Vs. RUSTOM GINWALLA

JUDGEMENT

(1.) The petitioner has filed these two petitions, challenging awards passed by a sole arbitrator, concerning disputes in two partnership firms, wherein the petitioner and the respondents were partners. The parties are family members and disputes arose between them, leading to issuance of notices for dissolution of the firms. The parties are members of the Ginwalla family, wherein the father Farhad Ginwalla, along with his son and daughters, were running the business of the two partnership firms, M/s. Shroff and Co, Colaba (hereinafter referred to as the Colaba firm) and M/s. Shroff and Co, Grant Road (hereinafter referred to as the Grant Road firm). The Grant Road firm was in the business of wholesale distribution of wines and spirits, since 1908 and the Colaba firm was in the retail business of wines and spirits.

(2.) On 14/3/1995, Farhad Ginwalla i.e. the father of the parties herein and Cherie Ginwalla, both original claimants, executed partnership deed, introducing the petitioner Zenobia Poonawalla as a partner in the Colaba firm for profits only. The share of partnership was, Farhad Ginwalla 40%, Cherie Ginwalla 40% and the petitioner Zenobia 20%. On 29/11/1996, the said parties executed an indenture, whereby the petitioner Zenobia was made a partner with share in profits and losses.

(3.) On 17/5/2012, the partners in the Grant Road firm executed partnership deed, introducing petitioner Zenobia as a partner of the firm. The partnership share was Farhad Ginwalla 33%, Rustom Ginwalla 19%, Rashna Ginwalla 19% and Zenobia (petitioner) 29%. Between 2012 and 2014, petitioner Zenobia and her father Farhad Ginwalla were involved in the day-to-day management of both the firms. In January 2014, the relationship between petitioner Zenobia and other family members, who were partners in the two firms, broke down and according to the partners, other than petitioner Zenobia, a decision was taken by them to wind up the business of the two firms.