Judgment

B. K. MUKHERJEA, J. : This appeal is directed against a judgment and decree of an appellant bench of the Calcutta High Court dated the 12th of March 1951 reversing on appeal, the decision of a single Judge of that court passed in Suit No. 1112 of 1946.

2. The suit, out of which this appeal arises, was commenced by the Central National Bank Limited, the appellant before us, in the Original Side of the Calcutta High Court, for a declaration that the bank acquired the rights of a pledgee in respect of two blocks of shares in two companies, to wit , the Indian Iron and Steel Company Ltd., and the Steel Corporation of Bengal Ltd. and was entitled to sell the shares in enforcement of the pledge. There was a claim for recovery of possession of these shares and also for damages alleged to have been suffered by the plaintiff by reason of wrongful denial of its title by the different bank.

3. The shares, to which the dispute relates, are 800 in number and admittedly they were the property of one Radhika Mohan Bhuiya, the defendant No. 2 in the suit. Sometime in February 1946 Bhuiya agreed to sell these shares to one Dwijendra Nath Mukherjee for the price of Rs. 38,562/8/. On 14th Feb