KANJAMALLY MUDALI TRUST Vs. STATE OF TAMILNADU

JUDGEMENT

(1.) THE Petitioner-Kanchamally Mudali Charitable Trust has invoked the writ jurisdiction of this Court, with the prayer for issuance of a writ in the nature of mandamus, directing the respondent herein to revalue the original 5000 star pagodas of the petitioner deposited with the Government of Tamilnadu, to the present day gold standard, and consequently pay the due interest at the prevailing bond rates to the petitioner.

(2.) THE case of the petitioner is that the Trust owned a vast extent of land in and around Tiruchirapalli Town. THE petitioner Trust was formed with the benevolent motive of serving the public and in particular to serve the servant of the East India Company. THE petitioner in order to achieve the object of the Trust deposited 2000 star pagodas (Gold coins weighing 3.4 Gms. Each) to the account of East India Company in Note No.164 of 1796 " interest on Government security " 24G-6% perpetual loan-AEAB0007 yearly interest of 120 star pagodas. THE petitioner thereafter deposited yet another 3000 star pagodas at a monthly interest of 20 star pagodas i.e. yearly interest of 240 star pagodas.

(3.) THE case of the petitioner is that Government hold the securities deposited as perpetual loans. THE details of securities is as under: