N. KHADERVALI SAHEB(DEAD)BY LRS. vs N. GUDU SAHIB (DEAD) .

The Supreme Court held that an award distributing the residue assets of a partnership firm upon dissolution does not require registration under Section 17 of the Registration Act, 1908. The Court reasoned that such an award does not create or transfer new rights in property, as the assets belong to the partners themselves, and the distribution merely reflects their existing ownership interests. Consequently, the Court overturned the lower courts' decisions that required registration, affirming the validity of the arbitration award.