Valuation of Immovable Assets and Settlement of Accounts Upon Dissolution of Partnership at Will

sketch of the Supreme Court of India
Case
V. SUMITRA REDDY v. K. RANGANADHA REDDY . (Supreme Court of India, 09-09-2026)
Law
Code of Civil Procedure, Indian Partnership Act.

Highlights of the Judgment:

  • Comprehensive analysis of Sections 46 and 48 of the Indian Partnership Act, 1932 regarding winding up and settlement of accounts upon dissolution.
  • Examination of whether an outgoing partner's share in immovable partnership assets should be valued as of the dissolution date or current market valuation.
  • Distinction between the cut-off date for calculating profits and losses versus the realization and distribution of residue asset values.
  • Application of Order XL Rule 1 of the Code of Civil Procedure, 1908 concerning the appointment of commissioners or receivers for partnership assets.