Indian Kanoon - Search engine for Indian Law

7. By a Deed of Revocation of Trust dated 31st March 2003, the said trust was revoked and the ownership of the assets of the trust was transferred to the beneficiaries i.e.Mrs.Veena N. Merchant and Mr. Bimal A. Merchant. It is the case of the claimants that on 31 st March 2003, Mrs.Veena N. Merchant/claimant no.1 herein and Mr.Bimal A. Merchant jointly became absolutely entitled to all right, title and interest in the said assets each entitled to 50% share therein.

21. Learned senior counsel for the claimants submits that though registration certificates of the trademarks shows that the partners of the said firm are the registered proprietors, it is an admitted position that those partners do not have any title to the registered trademarks. He strongly relied upon various provisions of the partnership deed and would submit that the trademarks never belong to the partners or the said firm but it belonged only to Mrs.Jeevabai. He submits that the said Jeevabai had assigned the registered trademarks by a Deed of Assignment in favour of the trust being Laljee Godhoo Family Trust. After revocation of the said trust, the said trademarks stood assigned to the beneficiaries viz.