ABBASHBHAI K GOLWALA Vs. R G SHAH

JUDGEMENT

(1.) The plaintiff, the three defendants and Kantilal Ochhavlat Sheth were carrying on business in partnership in the name of M/s. Goodwill Light House on the terms and conditions recorded in the Deed of Partnership dated 19th June, 1971. The partnership business consisted of manufacturing and/or dealing in Stoves, Lanterns, Blow lamps, Pressure Cookers, Milk Cookers etc. The business was carried on at Ryfa Buildings, Block No. 1. Safedpool, Kurla-Andheri Road, Bombay. Each of the 5 partners had 20% share in the said partnership business. Under clause 2 of the partnership deed it was provided as follows :

(2.) On or about 4th March, 1975 Kantilal Ochhavlal Sheth, who was one of the partners, died. On his death the remaining four partners, that is to say, the plaintiff and the three defendants continued the said partnership; the share of each of the partners became 25% share in the said partnership business.

(3.) Thereafter the defendants addressed a letter dated 6-5-1975 to the plaintiff. By this letter, inter alia, all the three defendants gave a notice to the plaintiff of their intention to retire from the suit partnership under Cl.2 of the said partnership deed. The relevant paragraph of the said letter is as follows :