SC explains distinction between ‘retirement of a partner’ & ‘dissolution of a partnership firm

Gurunanak Industries Vs Amar Singh (Dead) Through LRS (Supreme Court) In the given case, the partnership deed was executed between Swaran Singh and Amar Singh. The partnership firm was primarily in the business of manufacture and sale of print machinery for paper, polythene etc. The Guru Nanak Industries and Swaran Singh filed a civil suit against Amar Singh claiming that Amar Singh had retired from partnership with effect from 24th August 1988 and had voluntarily accepted payment of his share capital. The primary claim and submission is that Amar Singh had resigned as a partner and, therefore...