ABDUL VAHED ABDUL KARIM Vs. HASANALI ALIBHAI GHASIA

JUDGEMENT

(1.) The plaintiff in his plaint alleged that he borrowed from Defendant No. 1 Rs. 2,200 on December 24, 1920, and Rs. 300 on December 28, 1920, on the security of the following shares: Emperor Edward Mill Shares Nos. 3472 and 878. Colaba Mill Share No. 3375 Tata Hydro Ordinary Share No. 1740. Crescent Mill Shares Nos. 13552 and 3185.

(2.) Crescent Mill Share No. 13552, though belonging to the plaintiff, stood in the name of Defendant No. 1 in the Company's register. Certificates of the six shares with blank transfer forms signed by the plaintiff for the other five shares were handed to Defendant No. 1 at the time of the loan. On June 11, 1923, plaintiff redeemed the shares by payment of Rs. 2,632-13 to Defendant No. 1 who after about a month returned the Emperor Edward Mill shares and the Colaba Mill Share with the respective transfer forms, and stated that he could not find the other shares and transfer form. Defendant No. 2 was the brother of Defendant No. 1 while Defendant No. 3 was the banker of Defendants No. 1 and 2 and had dealings with them.

(3.) Defendants Nos. 1 and 2 appeared to have wrongly given the shares to Defendant No. 3 and plaintiff claimed to be entitled to recover them from the Defendants or one of them. Defendant No. 1, died after the institution of the suit and his heirs were placed on the record.