BOMBAY HIGH COURT
UNKNOWN, J
Central Bank Executor and Trustee Co. Ltd v. Hormusji Nusserwanji Madraswalla
| Table of Content |
|---|
| 1. clarification of the deed of settlement's stipulations. (Para 1 , 2 , 3) |
| 2. revocation and modification of trust provisions. (Para 4 , 5 , 6) |
| 3. trust revocation powers require explicit drafting. (Para 7 , 8 , 9) |
| 4. court's final ruling on trust administration. (Para 10 , 12) |
1. This is an Originating Summons taken out by the plaintiff - Co. which is the present Trustee of the Deed of Settlement executed by one Maneckji Ratanji Bharucha on 22nd April 1942 for the determination of certain questions that have been framed in it.
2. By clause 2 of the said Deed of Settlement dated 22nd April 1942, the settlor provided that the net income of the trust estate was to be paid by the Trustees to himself for life. By clause 4 thereof, it was provided that from and after the death of the Settlor, the Trustees were to pay the net income to the Settlor's sister Banubai, if she be then living, for the term of her natural life. Clause 5 of the said Deed provided that, from and after the death of the said Banubai, or in case she predeceased the Settlor then, on the death of the Settlor, the Trustees were to divide the Trust premises into two equal parts and hold them upon certain tru

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