T NANA TAWKER Vs. BHAVANI BOYE

JUDGEMENT

(1.) The deceased T. Naga-natha Tawker on 14th May 1913, applied by letter Exhibit II to the Nidhi which is the 1st defendant in the case and requested them to receive payment of Rs. 200 for twelve months on fixed deposit. The application, which was made in a printed form provided by the Nidhi, contained certain particulars to be filled in by the depositor including the following :- " Name of the person entitled to receive the. deposit, paid by me after me--relationship-- profession or occupation". Against this he entered the names of the present plaintiffs. T. Nana Tawker, elder brother s son, T. Kripasanker Tawker, grandson." He then received from the Nidhi the fixed deposit receipt in the usual form Ex. I which provided that interest would cease at the end of the twelve months, when the receipt should be sent for renewal of payment bearing a one anna stamp.

(2.) Article 36 of the Articles of Association of the Nidhi which was registered under the Indian Companies Act may be translated as follows :-" If any accident should happen to one of the signatories in order to transfer the shares, &c, to which he is entitled he must write giving specific details as to the person to be entitled to receive the money after his death or his heirs may receive it. Should any one desire to alter the name of the said persons it can be done on payment of a fee of annas two. " It is stated by. the the learned Judge that the depositor was a member or subscriber of the Nidhi, and this has not been questioned before us. Consequently the Articles of Association were binding as between him and the Company. It was also admitted as stated by the learned Judge, that the nomination in Exhibit II mast be taken to have been made pursuant to Article 36.

(3.) On these facts the learned Judge has held that the right to receive the deposit is in the 2nd defendant the heir of the deceased and not in the plaintiffs, the nominees under Exhibit II.