Privy Council Court February 1929 Judgments

K.T. Ganapathy Pillay Vs. Alamaloo and Another

Court: Privy Council

SIR CHARLES SARGANT: This appeal concerns the distribution of residuary trust funds held under the will dated 20th May 1898, of a testator, K. Tamboosamy Pillay, who died in the year 1902. By that will, after giving directions for the sale, conversion and investment of his real and personal estate and constituting thereout a residuary trust fund (therein called the trust funds), the testator directed that for a period of 21 years after his death certain shares or parts only of the income of trust funds should be paid and applied as therein mentioned, and the residue of the income of the trust funds should be accumulated by investing the same and the resulting, income thereof to the intent that such accumulations should be added to and form part of the corpus of the trust funds. And after certain further directions not material to be here stated the testator made a final direction and bequest in the terms following, that is to say : "And I direct my trustees on the expiration of 21 year...