KASHMIRI LAL KAPOOR Vs. KAILASH CHANDER KAPOOR

JUDGEMENT

(1.) THESE two appeals under Section 39 of the Arbitration Act are directed against the judgment and decree of the learned. IIIrd Addl. District Judge Srinagar dated 1.1.2000 whereby he has refused to set aside the award passed by Shri H.S. Oberoi., Advocate dated 30.7.1991 in a case titled Arbitration Application No. 60/Numbri.

(2.) KASHMIRI Lal Kapoor, (Appellant) and Kailash Chander Kapoor, C.B. Sethi, and Satish Chander Kapoor (Respondents) were carrying on business as commission agents and also as sole commission agents of Raymond Bombay in J and K under the name and style of M/S Kashmir House at Amirakadal, Srinagar. The business also included purchase and sale of cloth and yarn. Their business in fact started in the year 1968 when they entered into partnership with one Harbans Lal Anand who later on expired on 29.9.1976 due to which these partners entered into a fresh partnership and executed a new partnership deed on 29.1.1977. As per the new deed the partnership was deemed to have commenced from 30.9.1976. The shares of the parties in the profit and loss of the partnership business, as per the new partnership deed dated 29 -1 -1977 were as under:

(3.) IT appears that the business went smoothly for some time when in the year 1981 difference emerged between the partners and they fell apart. Satish Chander Kapoor sent a notice on 3.7.1981 to other partners of the firm expressing his intention to determine the partnership and asked them to settle the accounts with him failing which he shall be forced to approach the appropriate forum including the Court. The notice was sent through Mr. B.A. Bashir, counsel for Satish Chander Kapoor. The relevant part of the notice reads as under: