GOODS OF SEW PRASAD SARAF Vs. STATE

JUDGEMENT

(1.) This is an application by Ram Prasad Saraf for the grant of Letters of Administration to the estate of Sew Prasad (deceased).

(2.) The deceased Sew Prasad Saraf was the karta of a Hindu Joint Family governed by the Mitakshara School of Hindu Law. As karta of the family, he purchased 150 ordinary shares of Union. Jute Co., Ltd. and 100 ordinary shares in Standard Jute Co., Ltd. The shares were registered in his name. Sew Prasad Saraf died intestate on 24-2-1942. At the time of his death, the joint family consisted of himself, his brothers Ram Prasad Saraf, Ganga Prasad Saraf and his mother Mussammat-Jadi Bai and the minor children of himself and his brothers. The deceased had no personal assets or separate property.

(3.) The Articles of Association of the above two-companies provide that the executors or administrators of a deceased member shall be the only persons recognised by the company as having title to the shares registered in the name of such member.