1936 (11) TMI 30

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r due performance of their duties the petitioners deposited an aggregate sum of Rs. 2,600 with Lorind Chand and Sons. Gurdas Mal was one of the partners of Lorind Chand and Sons in the business of treasurership and the deposits came to his share in partition proceedings between the partners. Subsequently Gurdas Mal was declared an insolvent and his estate vested in the Special Receiver. The petiti....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....be paid back Rs. 2,600 in preference to the creditors of the insolvent, but it is strenuously contended that the money in question cannot be held to be trust money. No authority has been cited on behalf of the petitioners. On behalf of the respondent reliance is placed on In, re Manekji Petit Manufacturing Co., Ltd. AIR 1932 Bom 311 which fully covers the present case. In fact the circumstances of....