What taluqdars thought
The attitude of the taluqdars was best expressed by Hanwant Singh, the Raja of Kalakankar, near Rae Bareli. During the mutiny, Hanwant Singh had given shelter to a British officer, and conveyed him to safety. While taking leave of the officer, Hanwant Singh told him:
Sahib, your countrymen came into this country and drove out our King. You sent your officers round the districts to examine the titles to the estates. At one blow you took from me lands which from time immemorial had been in my family. I submitted. Suddenly misfortune fell upon you. The people of the land rose against you. You came to me whom you had despoiled. I have saved you. But now – now I march at the head of my retainers to Lucknow to try and drive you from the country.
Aakash and Baadal entered into partnership on 1st October 2023 with capitals of Rs 80,00,000 and Rs 60,00,000 respectively. They decided to share profits and losses equally. Partners were entitled to interest on capital @ 10 per annum as per the provisions of the partnership deed. Baadal is given a guarantee that his share of profit, after charging interest on capital, will not be less than Rs 7,00,000 per annum. Any deficiency arising on that account shall be met by Aakash. The profit of the firm for the year ended 31st March 2024 amounted to Rs 13,00,000.
Prepare Profit and Loss Appropriation Account for the year ended 31st March 2024.