P.C.K. MUTHIAH CHETTIAR & ORS. vs V.E.S. SHANMUGHAM CHETTIAR & ANR.

The Supreme Court held that the agreement between the parties was vitiated by fraud due to the appellant's failure to disclose substantial dividends amounting to 35,535 dollars, which he had collected while under a fiduciary duty to inform the respondent. The Court affirmed the High Court's decision that the respondent was entitled to the original five shares and the dividends, and clarified that under Section 13 of the Limitation Act, 1908, the time during which the defendant was absent from India must be excluded when computing the limitation period. The Court overruled previous decisions that conflicted with this interpretation of the Limitation Act.