SH. VINAY JAIN vs SH. RAKESH JAIN & ORS.

Judgment text excerpt

$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI Reserved on: 07.04.2025 Date of Decision: 16.04.2025 + FAO(OS) (COMM) 36/2025, CM APPL. 12729/2025 & CM APPL. 12731/2025 SH. VINAY JAIN .....Appellant Through: Mr. H.S. Thukral and Mr. S. Thukral, Advs. versus SH. RAKESH JAIN & ORS. .....Respondents Through: Mr. Rajesh Raina, Adv. CORAM: HON'BLE MR. JUSTICE C.HARI SHANKAR HON'BLE MR. JUSTICE AJAY DIGPAUL JUDGMENT % AJAY DIGPAUL, J. 1. The present appeal impugns the order dated 10.09.2024 passed by the learned Single Judge in CS(COMM) 354/2022. The appellant, Sh. Vinay Jain, was the original defendant in the said suit filed by the respondents, Sh. Rakesh Jain & others, who are his close family members. 2. The suit pertained to a long-standing familial dispute revolving around an immovable industrial property located at Plot No. 475, Signature Not Verified Signed By:SHILPI FAO(OS) (COMM) 36/2025 Page 1 of 9 Signing Date:16.04.2025 13:36:53 Functional Industrial Estate, Patparganj, Delhi1, and the business affairs of M/s V. Shah & Company, a partnership firm constituted in 1984. 3. The plaintiffs asserted their entitlement to the suit property and the assets of the firm, claiming that the firm was jointly operated and the suit property was acquired using the funds generated through the partnership business. The plaintiffs contended that the property, though standing in the name of the firm, was essentially joint family property and subject to partition. 4. The defendant/appellant disputed this claim, asserting that the property was self-acquired, funded solely through his personal savings, and merely registered in the firm’s name for convenience. He further relied upon a Memorandum of Family Settlement dated 27.11.2007, whereby Smt. Pratibha Jain (wife of the plaintiff) had alle