Case Law Analysis
|Bombay High Court
Section 37 Indian Partnership Act | Heirs of Deceased Partner Entitled to Post-Death Profits If Buyout Clause Not Executed : Bombay HC Upholds Arbitral Award
Bombay High Court affirms that under Section 37 of the Indian Partnership Act, heirs of a deceased partner retain entitlement to post-death profits if the partnership deed's buyout clause is not duly executed. The ruling reinforces that contractual obligations must be strictly complied with to extinguish profit-sharing rights of legal heirs.