Judgment

SUBBA RAO, J. : This is an appeal by special leave from the order dated July 13, 1957, of the Custodian-General of Evacuee Property, New Delhi.

2. One Abdul Satar Ahmedbhoy owned a factory known as Empire Tin Factory at Hathi Baug, Love Lane, Mazagaon, Bombay. On partition of the country he migrated to Pakistan. One Nathuram Ramaldas, a resident of Karachi, owned a shop there named Inidan Electric and Trading Company. Abdul Satar Ahmedbhoy and Nathuram Ramaldasagreed to enter into a transaction of exchange in respect of the said properties. For the purpose of exchange the Empire Tin Factory at Bombay was valued at a sum of Rs. 1,48,000/- and the Indian Electric and Trading Company at Karachi was valued at Rs. 1,00,000/- In respect of the balance of Rs. 48,000/- payable by Nathuram Ramaldas to Abdul Satar Ahmedbhoy, the former paid to the latter a sum of Rs. 11,000/- in cash and executed a promissory note dated December 24, 1947, in his favour for the balance of Rs. 37,000/- On or about march 22, 1948, Abdul Satar Ahmedbhoy endorsed the said promissory note in favour of the appellant Kundan lal Rallaram. It is said that the said endorsement was made in consideration of the tr