PADAMPAT SINGHANYA Vs. NARAYANDAS JHUNJHUNWALLA

JUDGEMENT

(1.) This is a suit instituted by five plaintiffs, as trustees under a deed of trust, executed on 7 August, 1928 by Gourishankar Bagdi, against two of their co-trustees and a firm of the name of Bansilal Aberchand Rai Bahadur, for accounts of the trust, for the defendant firm to be directed to pay the amount held in deposit, for the settlement of a scheme, and for such orders and directions as may be necessary and proper.

(2.) The facts necessary to be stated are not many, for the only defence preferred by learned Counsel at the hearing on behalf of defendants 1 and 2 is that this Court has no jurisdiction to entertain the suit and all other defences have been abandoned. Since the suit was instituted, the firm of Bansilal Aberchand Rai Bahadur has paid the money into Court and been dismissed from the suit.

(3.) A copy of the deed of trust is annexed to the plaint and is admitted. After certain recitals the document recites that Gourishankar Bagdi had deposited a sum of Rs. 1,10,000 with the firm of Bansilal Aberchand Rai Bahadur, who are described as carrying on business at 433, Mint Street, Sowcarpet, Madras, and that the money stands in their books to the credit of Gourishankar Bagdi, and after further recitals the document states that, for the purpose of giving effect to the wishes of the parties concerned, Gourishankar Bagdi nominates seven named persons, as trustees who shall constitute the first Board of trustees. The settlor then goes on to convey unto the trustees and to their successors the sum of Rs. 1,11,334-8-6, being the balance of the fund including interest, after paying the expenses of the trust deed, standing to his credit in the books of the firm of Bansilal Aberchand Rai Bahadur to hold such sum in trust for the uses and purposes set out in the document.