MRS. MALATI RAMCHANDRA RAUT AND ORS. versus MAHADEVO VASUDEO JOSHI AND ORS.

MRS. MALATI RAMCHANDRA RAUT AND ORS. versus MAHADEVO VASUDEO JOSHI AND ORS.

The correct date for valuation of shares under Partition Act, 1893 sections 2 and 3 is the date defendants seek leave to buy, not the date of preliminary decree. The right vests in the estate upon application, irrespective of subsequent probate or letters of administration.

Parties
Appellant: Mrs. Malati Ramchandra Raut; Respondent: Mahadevo Vasudeo Joshi
Jurisdiction
India
Judgment Date
20 December 1990
Procedural Posture
Civil Appeal / Supreme Court Appellate Decision
Outcome
Appeal allowed; impugned judgment set aside; judgment of single judge restored.
Legal Topics
Partition, Valuation of Shares, Partition Act, 1893
Property Law Partition Valuation of Shares Partition Act, 1893

Case Brief

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Parties

Mrs. Malati Ramchandra Raut

Appellant

Mahadevo Vasudeo Joshi

Respondent

Procedural Posture

Civil Appeal / Supreme Court Appellate Decision

Legal Issues

  1. 1 Relevant date for valuation of shares in partition suit under Partition Act, 1893 where shareholders seek sale and others seek purchase
  2. 2 Effect of legal representatives of deceased defendant not having obtained probate or letters of administration on accrual of right to purchase shares

Ratio Decidendi

The correct date for valuation of shares under Partition Act, 1893 sections 2 and 3 is the date defendants seek leave to buy, not the date of preliminary decree. The right vests in the estate upon application, irrespective of subsequent probate or letters of administration.

Court Disposition

Appeal allowed; impugned judgment set aside; judgment of single judge restored.

Orders

  • Valuation of plaintiffs' shares to be made with reference to date defendants sought leave to buy (July 1972 or October 1972); price to be determined as per valuation prevailing then.
  • Costs awarded throughout.