JUDGMENT :

R. F. NARIMAN, J.

CIVIL APPEAL NO. 54 OF 2016

1. Learned senior counsel appearing for the appellant seeks permission of the Court to withdraw the civil appeal.

2. The civil appeal is allowed to be withdrawn.

CIVIL APPEAL NO. 19936 OF 2017

3. The brief facts leading to the filing of the present civil appeal are as follows:

Two trusts named Yatra Art Fund Trust (Fund I) and Yatra Art Fund II (Fund II) were created under the Indian Trusts Act, 1882, through execution of Indentures of Trust dated 15.06.2005 and 01.12.2006.

4. A perusal of the trust deed shows that both these trust Funds were created for an initial period of 4-4½ years, the first Fund ending, after extension of one year, on 15.09.2011. Insofar as the second Trust Fund is concerned, this Trust Fund was also extended and ended on 31.01.2012. It may also be mentioned that these Trusts Funds were established so that investors could invest in works of art. In the Confidential Information Memorandum, it was made clear to the investors that these were investments which were fraught with grave risks and that the investors invest in these Trust Funds with open eyes knowing of the aforesaid risks.

5. So far as the first Fund wa