CHANDUKUTTY NAMBIAR Vs. RAMAN NAIR

JUDGEMENT

(1.) The 8th plaintiff in O. S. No. 41 of 1950 of the Court of the Subordinate judge of Tellichery is the appellant before us. He is the receiver appointed in respect of the assets of the Kamalalayam Bank in O. S. No. 189 of 1952 of the Court of the District Munsiff, Payyoli.

(2.) The Kamalafayam Bank is a partnership concern. A Hindu joint family is one of the partners. Ayya Pattar who instituted the suit from which this appeal arises was the Kartha and Manager of that family consisting of himself and his brothers.

(3.) The Kamalalayam Bank was doing business at various places. One of its Branches was at Quilandy and the 1st defendant was the agent of that Branch. He desired to start a bank of his own and the assets of the Quilandy Branch of the Kamalalayam Bank were transferred to him for a sum of Rs. 40,000/-.