KHAJAMIYA MIRANSAHEB MUJAHID Vs. PEERAPASHA MIRANSAHEB MUJAHID

JUDGEMENT

(1.) This is a second appeal against the concurrent findings of the courts below. The brief facts that may be necessary for disposal of the appeal may be stated and they are a follows : The appellant in this court and the court below was the defendant in the trial court. The respondent correspondingly was the plaintiff in the trial court. The plaintiff brought the suit for a declaration that certain shares bought in the name of himself and the defendant were bought solely out of his money as a matter of convenience and the defendant's name was added on. On retiring from Government service, the plaintiff demanded the defendant to transfer his interest in the shares which were acquired in several companies registered under the Companies Act, 1956 (hereinafter referred to as "the Act"), as he was the true and the full owner thereof. The defendant refused. Therefore, a suit for a declaration that he was the absolute and sole owner of the shares in question described in the schedule to the plaint was filed.

(2.) The defendant resisted the same on the ground, while admitting the fact, that the plaintiff had supplied the funds with instructions to buy the shares in joint names, as gifts. The gift being complete, he was the equal owner of the shares along with his brother.

(3.) The trial court framed the following issues :