SHADI LAL vs NAGIN CHAND & ORS.

The Supreme Court held that upon dissolution of a partnership, each partner retains a right to their share of the business assets, including quotas allocated based on historical consumption. The Court found that Nagin Chand was entitled to 1/3rd of the woollen yarn quota allotted to Jain Bodh Hosiery, as the quota was based on consumption figures from the partnership period. The judgment of the Punjab & Haryana High Court was upheld, affirming the entitlement of the partners to their respective shares of the quota.