TMI Blog2018 (10) TMI 1009X X X X Extracts X X X X X X X X Extracts X X X X ..... nd that there is dispute between the partners and that one of the partner is not discharging his share of liability. It is between the partners to settle their dispute inter-se. In case of a partnership firm, it cannot be contended by one of the partner that his liability is restricted according to his share and he will not discharge rest of the liability. The argument raised is against the provisions of Section 25 of Indian Partnership Act, 1932. As per Section 25 of the Indian Partnership Act, 1932, every partner is jointly and severally liable for the acts of the firm. The petitioner is liable to clear the liability of the firm. The right of the bank while making recovery is not affected by the individual share percentage of each part ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ose of business, firm availed following credit facilities in the year 2012 from respondent No.3-bank:~ Nature of Facility Sanctioned Limit Cash Credit ₹ 5,00,000/- Term Loan ₹ 6,19,995/- In order to secure the loan, both the partners mortgaged their land measuring 23 Kanal 9 Marla and 14 Sarsai, comprised out of Khewat No. 210/191 Min, Khatoni No. 245, Khasra No. 97/3(7-11), Khatoni No.246, Khasra No. 97//8(7-11), Khewat No. 492//453, Khatoni No. 610, Khasra No.178//13(8-0), 18(8-0), 178//23(8-0), 189//3(8-0), Khewat No. 211/191 Min, Khatoni No. 247, Khasra No. 151//16/1(7-4), 25/2(6-12), 163//12(7 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the petitioner will pay his half share of the loan amount and other half share may be recovered by selling the property of another partner. 7. The order dated 13.12.2017 was complied with and on 16.01.2018, learned counsel for the petitioner undertook to pay ₹ 3 lakhs more to the respondent No.3-bank within two months. Status quo regarding possession was restricted to half of the share of the land which was in possession of the petitioner. Thereafter, petitioner failed to deposit ₹ 3 lakhs as undertaken on 16.01.2018. 8. The contention of the learned counsel for the petitioner is that till date the entire repayment has been made by the petitioner only, the other partner and his legal heirs have not made any payment. He ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ercentage of each partner in the firm, it is something into the partners. 13. The Apex Court in Ashutosh Vs. State of Rajasthan and others, 2005 AIR (SC) 3434 held as follows:- Under Section 25, the liability of the partners is joint and several. It is open to a creditor of the firm to recover the debt from any one or more of the partners. Each partner shall be liable as if the debt of the firm has been incurred on his personal liability. 14. The Supreme Court in Sahu Rajeshwar Nath Vs. Income Tax Officer, C-Ward, Meerut and others (1969) 72 ITR 617 held as under :- Under the Partnership Act the liability of the partners of a firm is joint and several and it is open to a creditor of the firm to recover the deb ..... X X X X Extracts X X X X X X X X Extracts X X X X
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