Beneficiaries of the K.D. Broacha Trust accepted trustees' suggestions for dissolution and property distribution. The court approved the petition and ordered the trustees to distribute properties as suggested.
Petition made absolutely for dissolution of trust and distribution of properties as per trustees' suggestions.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY . ORDINARY ORIGINAL CIVIL JURISDICTION
TRUST PETITION NO. 1 OF 2013
Cyrus N. Hirjee and anr.
… Petitioners
Versus
The Official Liquidator … Respondent
Mr. Prathamesh Kamat i/by Kushal Mor for the petitioner.
None for the respondent.
CORAM : R.D.DHANUKA J. DATED : SEPTEMBER 25, 2013.
P.C.
T he petitioners are beneficiaries of K.D. Broacha Trust created under the last will and testament dated 4th May, 1933 made by Mr. K.D. Broacha. The respondent is sole trustee appointed by an order of this court dated 12th April, 1940 in Petition No. 49 of 1940 in respect of the said trust created by late K.D. Broacha. The said settlor late K.D. Broacha died at Vienna, Austria on 1st October, 1933. Under the said Will of the said deceased, the trustees have been directed to set apart certain amount from the said estate, securities and investment. Correspondence has been exchanged between the parties. The respondent trustees have vide their letter dated 5th September, 2011 to Petitioner no. 2 has suggested that it would be appropriate in the interest of both the beneficiaries of the Trust if beneficiaries desired for dissolution of the Trust duly giving up life interest to their children in the manner suggested in paragraph (f) of the said
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letter. It is also suggested that it would be desirable that such distribution be got approved from this court so that no misunderstanding could arise between the beneficiaries of the trust in future and wishes of the executant of the Will would not be defeated.
3. None appears for the trustees though served.
(R.D.DHANUKA, J.)
1 issue framed by the court
Whether the trust created by the last will of K.D. Broacha can be dissolved upon the suggestion of the trustees and acceptance by the beneficiaries.
Cyrus N. Hirjee and others
The Official Liquidator
R.D. Dhanka
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
