The suit was decreed by the Subordinate Judge by his Judgment dated 24th June, 1965.
The appellants were the plaintiffs in O.S. No.
There was numbercorresponding Act for Malabar area from which area the present appeal arises.
85 N of 1972.
2908 of 1975.
From the Judgment and Order dated 27.11.1970 of the Kerala High Court in A.S. No.
85 N of 1972 and Respondents in SLP.
390 of 1971.
WITH SPECIAL LEAVE PETITION CIVIL No.
The subscriber bids and prizes the ticket depending upon his need.
The re spondents were subscribers to the Kuri.
The suit was based on a Kuri transaction Chit Fund .
85 N of 1972 and Petitioners in S.L.P. No.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
2908of 1975.
Under the scheme of the Kuri, there will be bidding at monthly intervals.
M. Ghatate and S. Balakrishnan for the Respondents in A. No.
2908 of 1975.
S. Krishna Murthy lyer, A.S. Nambiar, G.N. Rao and Ms. Shanta Vasudevan for the Appellants in C.A. No.
They companymitted default after they had prized it and realised the Kuri amounts.
Hence the suit was filed for realisation of the principal sum with interest and the balance Kuri due.
From the Judgment and Order dated 15.1.1975 of the Kerala High Court in Second Appeal No.
It is time that the Government moved in the matter and brought some legislation to companytrol such unsocial activities.
When he does so, he voluntarily surrenders the benefit of dividends which is distributed among the subscribers.
78 of 1964 on the files of the Subordinate Judges Court, Palghat.
A Division Bench of the High Court heard the appeal and partly allowed it by modifying the decree of the Trial Court refixing the interest, largely influenced by the fact that the Kuri transaction and the companytract between the foreman of the Kuri and the subscribers defaulted burdened the subscribers with unconscionable interest and were unrea sonable.
A full Bench of the Kerala High Court had occasion to companysider the companyrectness of this view and in a decision reported in 1974 K.L.T. 806, such Kuri transactions were upheld and the decision of the Division Bench was reversed.
For example, suppose the Kuri amount is Rs.5,000 companysisting of 50 tickets valued at Rs.100.
The Judgment of the Court was delivered by KHALID, J. We will first deal with Civil Appeal 85/1972.
380 of 1965.
An appeal was filed before the High Court.
