In Brief
The Supreme Court examined a partnership dispute involving the share of profits due to two partners. The 1992 partnership deed provided the first partner 50% share if he invested Rs. 50 lakh, or 10% if he didn't. The 1995 amended deed provided both partners 25% share each, without the contingency clause. The Court held that the 1995 deed, executed after negotiations and deliberation, was entitled to highest credibility under the Indian Evidence Act. The defendants' claim that the 25% shares were a mistake lacked merit. The Court modified the judgment, declaring the partners entitled to 50% combined share until their valid expulsion on 18 June 2004.
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