Supreme Court · 2003 INSC 294 · Decided 9 May 2003
Syndicate Bank v. M/S. R.S.R. Engineering Works and ORS.
- Court
- Supreme Court of India
- Citation
- 2003 INSC 294 · [2003] SUPP. 1 S.C.R. 213
- Case number
- CIVIL APPEAL No. 1337/1995
- Decided
- 9 May 2003
- Bench
- SHIVARAJ V. PATIL, K.G. BALAKRISHNAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
B Indian Partnership Act, 1932; Section 32: Partnership firm-liabilities of retiring partners against third party-Held: Jn the absence of an agreement between third party, new firm and retiring partners discharging retiring partners C from liabilities or notice thereof by the retiring partners, firm as debtor-Rights against the old firm-Held. Such an act of adoption of new firm as debtor does not deprive the creditor enforcing his rights against the old firm particularly when D there existed no fresh agreement between him and the new firm-In the facts and circumstances of the case
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