Property of firm possessed by a partner, exclusively.

1. Legal Relief of any kind is possible IF the Partnership Firm was legally dissolved via a registered "Dissolution Deed" with relevant terms and conditions which should have included division of property, assets & liabilities, good will etc....  Oral agreement /partition has no legally enforceable value and is also against the Income Tax Act.

Keep Smiling .... Hemant Agarwal
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Deed of dissolution shall have to be perused for forming an opinion and oblige.

It would be better to contact, consult and engage a local prudent lawyer for analysing of facts / documents, professional advise and necessary proceeding in appropriate Court.

The following is essence of your post:

the arbitrator  accepted the partnership as alive and did not accepted division pf the properties

The arbitrator in his award,  declared possession  on the one property, by the one partner exclusively for the last approx.  25 years, and  also decreed rent of the property in favour of the remaining partners, whereas the remaining partners not claimed any rent

Now, (i)  what will be position of the one partner,  having possession of   the property,  regarding possession of the property and (ii)  rent granted in favour of the remaining partners? please reply.  

The partner is treated as Trustee and his possession is on behalf of the existing partnership firm.  The division of profit/rent must be as per Partnership deed and as per the signed arbitration deed. signed by all partners.
 

Thanks for the information. I have a question. I have an e-commerce store named Dakhm. It is my property in a sense. Have I needed to follow this law for my e-commerce store?