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SC held that mere resignation or internal partnership agreement does not legally discharge a partner's liability under the Negotiable Instruments Act. Statutory requirements mandating registration of partner changes with the Registrar of Firms were not followed. The partner remained liable for cheque dishonor, particularly given involvement in firm's daily operations and participation in cheque issuance. The HC's order was set aside, and the trial court proceedings were restored for further adjudication in accordance with legal provisions governing partnership firms and cheque-related offenses.
SC held that mere resignation or internal partnership agreement does not legally discharge a partner's liability under the Negotiable Instruments Act. Statutory requirements mandating registration of partner changes with the Registrar of Firms were not followed. The partner remained liable for cheque dishonor, particularly given involvement in firm's daily operations and participation in cheque issuance. The HC's order was set aside, and the trial court proceedings were restored for further adjudication in accordance with legal provisions governing partnership firms and cheque-related offenses.
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