Karnataka Court July 1950 Judgments

In Re: D.V. Gundappa and ors.

Court: Karnataka

Reported in: AIR1951Kant6; AIR1951Mys6

ORDERMallappa, J.1. This revision petition is against the order, dated 19th July 1949, parsed by the Additional District Judge, Bangalore, in Mis. case No. 256 of 48-49 refusing to grant sanction for sale of a trust property by the trustees who are the petitioners in the case.2. The trust was created by Vajapayam Krishniah on 5th January 1916 for the benefit of education to poor students. One of the properties is a shop in Chickpet, Bangalore. According to the verified statement filed by the trustees the shop is in need of repairs and requires heavy funds for that purpose. It is fetching a small rent of Rs. 45 par month. One Bhimraj Prathapathmal is prepared to buy the property for Rs. 32,000. It is urged that if this amount is deposited with Government the rate of interest that it would fetch is 4 per cent. There is hardly any doubt, that in case the property is sold and the amount deposited as stated above, it is very advantageous to the beneficiaries. This will avoid large amounts b...