LALIT MOHUN NUNDY Vs. HARIDAS MUKHERJEE

JUDGEMENT

(1.) In this case the action was brought by the plaintiff claiming the sum of Rs. 2,500 and interest, and also for a declaration that the shares, which have been called in this case the Equitable" shares, should be charged with the repayment of the said sum of Its. 2,500 and also for the recovery of the said shares. The action was brought against Nikkamull Khetry the 1st defendant who did not appear, and, therefore, the case proceeded, so far as he was concerned, ex parte. The other defendant was Lalit Mohun Nundy, and he is the defendant who has appealed against the decision of the learned Judge.

(2.) The learned Judge has directed that as far as this 4efendant (the 2nd defendant) is concerned, the shares in question are charged with the repayment of Rs. 2,500.

(3.) It is to be noticed in the first instance that the claim put forward by the plaintiff was that he had but advanced the said sum of Rs. 2,500 to Nikkamull Khetry on the 27th of March 1913. It turns out upon the evidence being given that he had not lent or advanced Rs. 2,500 in the ordinary sense of the words, but had sold 200 Baraboni shares to Nikkamull at Rs. 15 per share amounting to Rs. 3,000, and Nikkamull had given him a cheque for Rs. 500 which had been cashed, and, therefore, there remained a balance of the purchase-money, Rs. 2,500 owing by Nikkamull to the plaintiff. In respect of that Nikkamull deposited with, the plaintiff this certificate in respect of the 100 Equitable shares. The certificate is in the ordinary form, whereby it is certified that Mr. L. Rogers is "the registered proprietor of 100 of the above- mentioned ordinary shares" and so on. The certificate was signed by somebody, whose name I cannot read, on behalf of Macneill & Co., who are the managing agents, and then apparently it was transferred in the name of a man called Mr. Macnaghten, and then it was transferred in blank and signed by the Attorney of Mr. Macnaghten. This certificate and blank transfer were deposited by Nikkamull with the plaintiff on the 27th of March 1913 as security for the payment of the Rs. 2,500.