LILADHAR RATANLAL VYAS Vs. HOLKARMAL SOHANLAL

JUDGEMENT

(1.) THIS is a plaintiff's second appeal from the dismissal of his suit for accounts of a dissolved partnership.

(2.) ACCORDING to the plaintiff he entered into a partnership with defendants 1 and 2 in the year 1942 and contributed Rs. 5000/- as his share towards the capital of the partnership business. The partnership business continued till 28-7-1948, on which date it was dissolved by virtue of a notice served by the plaintiff. In that notice the plaintiff had demanded accounts of the partnership business but the defendants failed to render accounts. By reason of this failure, the plaintiff was compelled to institute the suit out of which this second appeal arises.

(3.) BOTH the defendants denied that the first defendant had any connection with the partnership business. Both of them denied that the partnership business continued upto 28-7-48. Further according to them a sum of Rs. 5000/- contributed by the plaintiff was not towards the capital of the business but was by way of a deposit as security to cover future losses. They contend that the partnership business continued only up to 28-10-43 on which date accounts were taken and a sum of Rs. 9230/12/- was paid to the plaintiff in full settlement of his claim. Further according to them, the suit was barred by limitation.