- (1.) I. Having considered the facts and the circumstances of the case we permit the Board of Management to declare and pay interim dividend as proposed by them subject to the following conditions :
(1.) The dividend due and payable on the disputed shares of 34% in respect of the National Textile Corporation should be deposited with the Registrar of this Court and the Registrar will keep the money invested in short term Fixed Deposits with the State Bank of India, Parliament Street, New Delhi in the name of N.T.C. and the amount will not be operated upon until further orders of this Court. The particulars of the Fixed Deposit Certificate will be conveyed to the Advocate on Record for the N.T.C.
(2.) The dividend due allegedly belonging to Doypack Pvt. Ltd. & Paharpur Cooling Towers Pvt. Ltd. will also be similarly deposited in short term Fixed Deposits with the State Bank of India, Parliament Street, New Delhi in the name of the Companies but the amount will not be operated upon until further orders. The particulars of the shares in respect of which such dividends are being declared will be conveyed to the Advocate on Record appearing with Mr. Anil B. Diwan, Sr. Advocate. These shares are alleged to have been transferred but not registered.;