Satra Kumaji Vs. Visram Hasgavda - Court Judgment
|Judge||Michael Westropp, C.J. and ;Nanabhai Haridas, J.|
deed of assignment of mortgage--consideration--registration. - section 31(4) (since repealed) :[tarun chatterjee & h.l.dattu, jj] jurisdiction of high court - respondent, a government company, chartered appellants vessel to carry rock phosphate from togo to west coast india - dispute arose between parties - under agreement, respondent had chosen mumbai as port of delivery vessel carrying rock phosphate was delivered at port of bombay - application filed by respondent earlier before delhi high court for appointment of certain individual as arbitrator had become infructuous because of his demise held, high court of bombay, is not correct in rejecting arbitration petition filed by appellant on ground of lack of jurisdiction. .....for the purposes of registration, to fix the value of the interest thereby assigned. this court, therefore, reverses the decree of the district judge and remands this cause for a new trial on the.....
Michael Westropp, C.J.
1. The Court, following its own decision in Vasudev Moreshwar Gunpule v. Rama Babaji Dange 11 Bom. H.C. Rep. 149 and the Calcutta decision--Rohinee Debia v. Shib Chunder Chatterjee 15 Cal. W.R., 558, holds that the deed of assignment (Exhibit No. 4), being for a consideration less than Rs. 100, did not require registration. It may be that the parties to the original mortgage (Exhibit No. 3), valued the security and the solvency of the parties at Rs. 100 or upwards, but it does not thence follow that either or both were deemed of that value at the date of the assignment, and it was for the parties to that latter transaction, for the purposes of registration, to fix the value of the interest thereby assigned. This Court, therefore, reverses the decree of the District Judge and remands this cause for a new trial on the merits.