MOHD. MOUALANA Vs. BRIGHTWAY COMMUNICATIONS

JUDGEMENT

(1.) Heard Ms. B. Nishitha, learned counsel for the Applicant and Mr. A. Tulsi Raj Gokul, learned counsel appearing for Respondent Nos.1 and 2.

(2.) The Respondent No. 1 firm, named M/s. Brightway Communications, was established through a Partnership Deed dtd. 1/2/2012, executed between Mr. Kaveti Manohar Kumar and Mrs. Motadu Padmalatha. This partnership is registered under the provisions of the Partnership Act, 1932, with registration No. 2577/2014, allocated a 50% share in profits and losses to each partner. The original partners are no longer part of the firm. The business was founded to operate a cable network by laying cables and providing cable and internet connections to subscribers, either directly or through franchise cable operators. The firm was also set up to engage in the business of importing, exporting, trading, dealing, and acting as agents for various products, including comics, film books, calendars, greeting cards, posters, sticker toys, stationery, computer peripherals, cable TV material, television electronics, and television set-top boxes, as outlined in Clause 3 of the Partnership Deed. The partnership was empowered to undertake any other business with mutual consent of the partners.

(3.) A Reconstitution of Partnership Deed, dtd. 9/5/2015, introduced Respondent Nos. 2 and 4 as new partners. The profit and loss distribution was revised as follows: (1) Kaveti Manohar Kumar - 5%; (2) Motadu Padmalatha - 50%; (3) Respondent No. 2 - 20%; and (4) Respondent No. 4 - 25%. Shortly thereafter, an "Admission-cum- Retirement Deed" dtd. 2/7/2015 was executed, leading to the retirement of Mrs. Motadu Padmalatha from the partnership. Simultaneously, the Applicant, along with Respondent Nos. 3, 5, 6, and 7, were inducted as partners. This Deed revised the distribution of profits and losses accordingly.