SupremeToday Landscape Ad
Back
Next
Judicial Analysis Court Copy Headnote Facts Arguments Court observation
judgment-img

1924 Supreme(Mad) 94

WALLACE
Addepalli Venkata Gurunadha Rama – Appellant
Versus
Sri Tripurasundari Cotton Press, – Respondent


JUDGMENT

Wallace, J.

1. The only question argued in this appeal is one of limitation. The plaintiff had purchased in Court-auction some shares which the judgment-debtor held in the second defendant company, and some dividends on those shares which had fallen due before the date of his purchase. The company refused to pay him the dividends and he has filed a suit for these. His suit was in 1917. One of the dividends, namely that for 1912, fell due on 11-4-1913 and the lower Courts have held that the plaintiffs suit was barred as regards this dividend, since he had not sued within three years of the dividend falling due. The plaintiff appeals.

2. The plaintiff relies chiefly on a ruling reported in Ripon Press and Sugar Mills, Ltd. v. Nama Venkatrama Chetty (1918) ILR 42 M 33 : 35 MLJ 256, which lays down that a suit by a share-holder to recover dividend is covered by Article 116 of the Indian Limitation Act, that is a shareholder gets six years within which to sue for payment of dividend which has fallen due. The rejoinder to this contention is that the plaintiff is not a shareholder, since the company has refused to register him as such. The plaintiff appeals to the ruling in Nagabhus



Click Here to Read the rest of this document
1
2
3
4
5
6
7
8
9
10
11
SupremeToday Portrait Ad
supreme today icon
logo-black

An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers

Please visit our Training & Support
Center or Contact Us for assistance

qr

Scan Me!

India’s Legal research and Law Firm App, Download now!

For Daily Legal Updates, Join us on :

whatsapp-icon telegram-icon
whatsapp-icon Back to top