FURQAN AHMED RATHER Vs. MIR NASAR-UL-LAJ

JUDGEMENT

(1.) BUSINESS concern run under the name and style of M/S Dale Agro Industries situated at Industrial Estate of J&K Industrial Development Corporation Limited (SIDCO) Rangreth, District Budgam, of which petitioner and respondent no. 1 are the owners -cum -partners has been established for manufacturing of food procession. Dispute in between the partners has given rise to litigation i.e. respondent (plaintiff) has filed suit for declaration and permanent injunction praying therein that the petitioner (defendant) be asked to render the accounts as per the terms and conditions of partnership deed and has also prayed that petitioner (defendant) is not entitled to transfer or sell the goodwill, name and style of business including the customers of the said firm, except in favour of the respondent (plaintiff) who has a preferential right. Further more respondent (plaintiff) is entitled to the said business establishment in the capacity of exclusive owner petitioner (defendant) alongwith other respondents (defendants) shall be restrained from causing any sort of inconvenience in the functioning and running of the said business.

(2.) PETITIONER (defendant) seem to have filed an application in terms of Sub Section (1) of Section (8) of Jammu & Kashmir Arbitration and conciliation Act of 1997 contending therein that the suit may be dismissed and matter referred to Arbitrator in terms of the conditions of Partnership deed.

(3.) IN short, it is projected that in terms of para 15 of the partnership deed, dispute or difference in connection with the said firm is required to be settled amicably, on failure required to be referred to the Arbitrator.