SHAMAL DAS KSHETTRY Vs. PHANINDRA NATH ROY CHOUDHURI

JUDGEMENT

(1.) This appeal is against an order of the District Judge of the 24-Pergunnahs in an insolvency case.

(2.) One Sarada Prosad Ghosh was a dealer in jute. He entered into an agreement with a certain person called Khettry under which the latter was to make advances to Sarada on the security of jute kept in his godown. By the agreement, the key of the godown was to be kept by Khettry but was to do the buying and selling independently and Khettry was to have no control over that. Further, Sarada was to have the delivery of the jute. In this manner Khettry used to finance Saiada until An that 1920 when he stopped further advances. On the 19th January 1921 Sarada presented a petition of imolvency. The adjudication order was made on the 21 January, 1921 and a Receiver was appointed.

(3.) Khettry claimed to be a secured creditor in respect of the jute, which lay, in, the godown. His dues were about Rs. 38,500. The dues of other, creditors amount in all to about Rs. 53,000 and, out of this amount something over Rs. 25,000 represents the dues of traders in jute dealing with Sarada.