Bar of Section 69(2) of Indian Partnership Act, 1932 not applicable to Transactions not in the course of business: SC

Shiv Developers Vs Aksharay Developers (Supreme Court) As noticed, the crucial and key factor in the present case remains that the sale transaction in question is not arising out of the business of the appellant firm. Equally significant fact is that the subject suit is for enforcing a right of avoidance of a document on the ground of fraud and misrepresentation as also the statutory rights of seeking declaration and injunction. Significantly, the composition of defendant firm “Aksharay Developers” (defendant No. 1) has itself been questioned by the plaintiff-appellant while alleging that ...