RAGHAVJI VIZPAL Vs. NARANDAS PARMANANDAS

JUDGEMENT

(1.) This suit is brought by a firm trading under the name and style of Raising Amerchand for the declaration of a lien or charge upon five Government Promissory Notes, each of the nominal value of Rs. 1000, and upon all interest payable in respect thereof for the sum of Rs. 6124-7-9 and further interest due to the firm on account of moneys lent to the first defendant, Narandas Parmanandas. The plaintiffs also pray that the defendants may be ordered to indorse the said Notes so as to enable the plaintiffs to sell them and apply the sale proceeds towards satisfaction of the claim.

(2.) The said Notes stand in the name of one Fulkore Bai, deceased, step-mother of the first defendant, as survivor of Parmanand Virji. The plaintiff's case is shortly this :-The plaintiffs having advanced Rs. 46,000 to the first defendant in March 1893, the latter as securities for the loan deposited the title deeds of his house in Bazar Gate Street, certain ornaments and the Notes in question. The plaintiffs allege that the pledge of the Notes was made by the first defendant with the knowledge and consent of Fulkore Bai. They further state that in April or May 1894 by an agreement between the plaintiffs and the first defendant the Notes were allooated to secure payment of Rs. 5,000 out of the loan of Rs. 46,000.

(3.) The first defendant denies the pledge of the Notes and his defence is that the Notes were kept by him with the plaintiffs for safe custody.