Full Judgment
ORDER
SHEET GA NO.2135 OF 2014 WITH CSOS NO.4 OF 2014 IN THE HIGH COURT AT CALCUTTA Ordinary Original Civil Jurisdiction ORIGINAL SIDE DAMODAR PRASAD GANERIWALLA & ANR.
Versus DWARKA PRASAD GANERIWALLA ………… BEFORE: The Hon'ble JUSTICE I.P.MUKERJ.Date : 26th August, 2014.
Mr.Raja Basu Chowdhury, Mr.S.Karmakar, Mr.B.Biswas…for petitioneRs.Mr.J.Saha, senior advocate, Ms.S.Roy…for defendant.
The Court : The trust in question was created by Dwarka Prasad Ganeriwalla.
My attention is drawn to clauses 4 and 5 of the Deed of Trust dated 5th September, 1962, which are as follows :“4.
That after the death of the settlor and his wife the income payable by the Trustees to the settlor’s wife will be paid in equal share to the sons of the settlor Dwarka Prasad Ganeriwalla.
In the event of the death of any of the sons of the said settlor the amount payable to such deceased son would be paid to his widow and his sons in equal shares.”
5. The trust hereby created shall come to an end after the death of Dwarka Prasad Ganeriwalla, the settlor herein and his wife and all his sons living on the date of these presents, namely Damodar Prasad Ganeriwalla, Chandra Kumar Ganeriwalla and Naresh Kumar Ganeriwalla and then in the event the trust property will be given by the trustees in equal shares to all the grandsons of the settlor including those who have borne after the date of these presents in such manner that the grandsons from each of the sons branch together with their respective mothers will collectively get one equal share but in the event of any of the grandson predeceasing the settlor or the said Dwarka Prasad Ganeriwalla or his wife the widow and the sons of such deceased grandson will be entitled to get the property in such share as would have gone to the said deceased grandson if he would have been alive.” By my order dated 16th April, 2014, I had directed sale of the trust property to M/S.Solar Highrise PVT.LTD.for a sum of Rs.4.50 crores.
This sale is being effected.
By this application, Damodar Prasad Ganeriwalla and Chandra Kumar Ganeriwalla want to relinquish their beneficial interest.
Naresh Kumar Ganeriwalla died long ago and has no heir after re-marriage of his widow in 1991.
In view of this, Dwarka Prasad Ganeriwalla is not interested to continue as trustee.
By operation of clauses 4 and 5 the trust should come to an end.
Mr.Raja Basu Chowdhury submits that the trust be put to an end and the sale proceeds be distributed amongst the wife of Damodar Prasad Ganeriwalla, Urmila Devi Ganeriwalla and his minor son Dharmapriya Ganeriwalla, who would together get 50% and Pallav Ganeriwalla, son of Chandra Kumar Ganeriwalla, who would get the balance 50% of the property.
I accept his suggestion and order accordingly.
Dwarka Prasad Ganeriwalla will remain as trustee till the sale proceeds are received and distributed by him as mentioned above.
Thereafter, he will stand discharged as trustee and the trust will be deemed to have come to an end.
This application is disposed of by the above order.
Certified photocopy of this order, if applied for, be supplied to the parties subject to compliance with all requisite formalities.
(I.
Pkd.
A.R.[C.R.].P.MUKERJI, J.)