L SHIAM LAL Vs. SHIAM LAL

JUDGEMENT

(1.) The arguments in this appeal have extended over a wide range, but we have come to the conclusion that the decrees of the Courts below are perfectly correct and ought to be affirmed.

(2.) The suit giving rise to the present appeal was for settlement of accounts and, if necessary, for the dissolution of a partnership, which was entered into between the plaintiff-appellant and the defendant-respondents by means of a registered deed of partnership dated 9 March 1925. The partnership was to run an oil mill at Allahabad. The building and the machinery belonged to the defendants and the plaintiff agreed to invest a sum up to Rs. 40,000 as working capital. It was provided in the deed of partnership that no partner shall have the right to dissolve the partnership for a period of three years, and that if the partners desired to carry on the partnership business after the expiry of three years they could do so with mutual consent. It was also provided by the deed that at the time of the conclusion of partnership the stock, etc., in hand will be sold by auction.

(3.) The present suit was filed by the plaintiff on 19 March 1931. It was alleged in the plaint that the partnership was not dissolved till the month of June 1928, and, as the suit was filed within three years from that date, it was within time. The defendants contested the suit inter alia on the ground that the partnership was dissolved more than three years before the date of the suit and the suit was barred by limitation. This contention of the defendants has been accepted by both the Courts below.