In the absence of a partnership deed, the provisions of the Indian Partnership Act, 1932, apply. According to the Act, if there is no agreement regarding the interest on capital contributed by the partners, then no interest on capital is allowed to any of the partners. Therefore, in this situation, Jagmohan’s view of allowing interest on capital at 6% p.a. is not acceptable, and Ramesh must have convinced him stating the provisions contained in the Partnership Act, 1932.