Forgot password
New User/ Regiser
⇒ Register to get Live Demo
1963 (5) TMI 10 - SUPREME COURT
Whether the court would have been within its right to direct his name to be included in the register, even if the company was impleaded in the suit filed by, Sir Padampat against Reddy?
Held that:- We are however unable to grant the relief to the plaintiff in view of our finding that Reddy could not be compelled as constructive trustee to buy new shares in his own name for the cestui que trust and further in view of our finding that even if he could be compelled to acquire those shares in his own name for the cestui que trust he could not be said to have defaulted in his duty in carrying out the directions of the cestui que trust as in this case no proper and valid requisition was made by the cestui que trust on the trustee for the acquisition of those shares. The plaintiffs in the two suits are therefore not entitled to any relief.
For the reasons given above, we allow Reddy's appeal and dismiss the cross appeal of Sir Padampat as well as the receiver's appeal and dismiss both the suits, but in the circumstances of this case we will make no order as to costs in both the suits throughout.