M N CHHAYA Vs. P R S MANI

JUDGEMENT

(1.) These two original summons are taken out under the high Court (Original Side) Rules and both are substantially identical. These two originating summons deal with two segments of the employees, one workers category and second officers category in a company known as KSF Ball Bearing company Private Limited. These originating summonses as well as the suits are disposed of by this common judgment.

(2.) Some of the material facts of the present case are as under :-

(3.) A private trust was floated known as SKEFKO Employees' Benefit Trust. The said trust was constituted under a deed of trust dated 18-4-1973 and the main object of the said trust was to provide for various benefits to the employees of a company own as SKF Ball Bearing Company Private Limited. The trust was settled by the said company known as SKF Ball Bearing Company private Limited. The name of the said company was subsequently changed to skefko India Bearing Co. Limited. At the time when the trust was settled there were large number of employees who were beneficiaries in respect of the said trust. The names of the employees are given in Schedule A to the suit. The original corpus of the aforesaid trust was sum of Rs. 40,000/ -. The trust inter alia provided that all the employees whose gross emoluments should be do not exceeds Rs. 1600/- or more were entitled to be treated as beneficiaries under the said trust. It was also further provide that if an employee leaves the service of the settlor i. e. the company and ceases to be in employment for any reason whatsoever the said employee will cease to be beneficiary under the said trust and will not be entitled to any benefits thereunder. Some of the material clauses of the said trust are briefly reproduced hereunder and it is these clauses which are the subject-matter of interpretation before me :- 1 (a) The expression "the settlor" shall mean and include its successors. 1 (c) The expression "employee" shall mean any employee or officer of the settlor drawing gross emoluments of less than Rs. 1,600/- per month. l (d) The expression "the beneficiaries" shall mean the employee whose names are contained in the initial list and each such employee's wife his dependent children unmarried daughters dependant parents and his son's widow and her dependant children. 6 The trustees shall hold the sums convenanted by Clause 2 hereof and any further sums which may be paid under any future deed or Covenant or otherwise upon trust ac their discretion to pay or apply the same to or for the benefit of all the beneficiaries or any one or more of them to the exclusion of the other or others in such share and in such manner in all respects as the trustees in their discretion may think fit; provided always that the trustees may at their discretion postpone the application of the whole or any part of the sums received at any particular time and apply the same at a later time. 8 (a) The trustees shall be entitled from time to time to add to the initial list the name of any person who at the date of exercise of the power is an employee as defined in Clause 1 hereof. Provided that the trustees shall not however be under any duty to exercise the foregoing power if they shall not chose to do so. (b) In the event of an employee ceasing to be in the service or employment of the settlor, for any reason whatsoever, 1 such employee and his wife, dependant children unmarried daughters, dependant parents and his son's widow and her dependant children shall ipso facto cease to be beneficiaries under these presents. 10 The trust will be valid until the death of the last to die of the employees listed in Schedule "a" hereto or until the winding up or dissolution of the settlor, whichever is earlier.