S.P.KURDUKAR, C.J. - (1.) The United India Insurance Company, Ltd. (hereinafter referred to as 'the Insurance Company') (originally defendant No. 1), has filed this second appeal challenging the legality and correctness of the judgment and decree dated 4-10-1982 passed by the learned District Judge, Hissar, in appeal confirming the judgment and decree dated 7-10-1980 in Civil Suit No. 59 of 25-1-1979/4-8-1978, passed by the Sub Judge Ist Class, Hissar.
(2.) First respondent M/s. Aman Singh MunshiLal, Bankers and Commission agent, a registered partnership firm, filed a suit against the appellant and other three defendants (respodnents Nos. 2 to 4), for recovery of Rs. 1,22,795.64. The suit came to be decreed against the appellant for recovery of Rs. 98550.16. The suit against the other defendant's was dismissed. The learned Sub Judge granted interest at the rate of 6% per annum from the date of decree till its realization. The said decree came to be confirmed by the learned District Judge, Hissar.
(3.) A few facts which are necessary to consider the rival contentions may be summarised as under : The first respondent (hereinafter referred to as 'plaintiff ), a firm known as M / s. Aman Singh Munshi Lal, was a registered partner ship firm under the Indian Partnership Act. This firm was registered on 3-12-1969. The partners, who constituted the said firm were Prem Sagar, Satya Bhama and Smt. Kailashwati. They were carrying on the business as bankers and commission agents at Hansi. Smt. Kailashwati, one of the partners died on 18-5-1978. A new partnership firm came to be constituted vide partnership deed dated 23-5-1978, Exp. P 1, and it is no more in dispute that the said partnership firm is registered one and is carrying on the same business. On the death of Smt. Kailashwati, a new partner Ashok Kumar was brought in and he being a minor; under the new partner ship, was to receive only profits. Under this new partnership deed, a recital is incorporated that all rights and liabilities of the erstwhile partnership were taken over by this new partnership. It is this new partnership, (the plaintiff), which has filed the present suit for recovery of Rs. 1,22,795.64 in respect of the losses sustained by erstwhile firm. Shri Prem Sagar Jain, one of the partners of the existing firm, has filed this suit on behalf of the plaintiff-firm.;