Partnership Act, 1932
Partnership Act, 1932 — section 54
54. Agreements in restraint of trade..—Partners may, upon or in anticipation of the dissolution of the firm, make an agreement that some or all of them will not carry on a business similar to that of the firm within a specified period or within specified local limits ; and notwithstanding anything contained in section 27 of the Contract Act, 1872 (IX of 1872), such agreement shall be valid if the restrictions imposed are reasonable.
This is the text of the provision as enacted. It is legal information, not legal advice, and it cannot account for the facts of your own matter. For advice on your situation, consult a verified advocate.