This is an appeal by the plaintiffs in the Court below representing the entire body of shareholders of a private limited company, the O.V. Estates Ltd. (16th defendant) which was liquidated, for possession vesting or reconveyance of the suit properties (Schedules A to D) alleged to have been transferred through the exercise, of fraud, misrepresentation and undue influence on the part of defendant 1 (Messrs. Pierce Leslie &38; Co., Ltd.) and defendants 2 to 14 through the 1st defendant, who stood to the plaintiffs in a fiduciary relationship of trust and confidence, in favour of the O.V. Estates (1939) Ltd., the 15th defendant (new company).

The learned Subordinate Judge of Nilgiris dismissed this suit upon findings adverse to the plaintiffs upon all the main issues, including limitation.

In the presentation of this appeal before us, learned counsel for the appellants has attempted, to base their case upon certain principles of equity jurisprudence, which have received both statutory recognition and the affirmation of Courts in many precedents, within the ambit of the specific case of actual fraud, wilful misrepresentation and the deliberate exercise of undue infl