( 1 ) SM. Sumitra Debi Jalan (the plaintiff) is the daughter of a Radha Kissen Kanoria who is the Managing Director of Kanoria and Company, Ltd. Her case is that she purchased and took delivery of 5,100 ordinary shares of the Rohtas Industries, Ltd. , through her father. The share-scrips in respect of these shares together with the relevant blank transfer-deeds duly signed and endorsed by the registered holders were kept in the office of Kanoria and Company, Ltd. In her plaint she admits that she had not registered herself as the owner of these shares in the books of the Company, i. e. , Rohtas Industries, Ltd.

( 2 ) IT is stated that the defendant No. 1 was at the material time an employee of Messrs. North Bihar Sugar Mills, Ltd. , of which Kanoria and Company, Ltd. , was the managing agents. On or about the 3rd week of May, 1954, the said share-scrips together with some other shares were found to be missing from the office of Kanoria and Company, Ltd. , when the defendant No. 1 was on leave and it transpired as a result of enquiries made in that respect that the defendant No. 1 had stolen the said sharescrips from the office of Kanoria and Company, Ltd. , and had