ANDHRA CEMENTS LTD. Vs. ANDHRA CEMENTS LTD.

JUDGEMENT

(1.) Heard the learned counsel for the petitioner appellant.

(2.) The interim order passed on 26.4.1996 is modified to the extent that the respondent No. 5, Board for Industrial and Financial Reconstruction, New Delhi, is directed to determine within six weeks from the date of receipt of a copy of this order as to what debenture shall be treated as a small holding in pursuance of the previous orders of the court and intimate the same to the parties and to this court. In the event the respondents 1 to 4 are found to be small holders of debentures in accordance with the determination by the respondent No. 5, the petitioner appellant shall deposit the amount representing the value of the debenture in a nationalised bank within two months thereafter, in renewable fixed deposits of one year. The direction regarding payment of the amount so deposited shall be in accordance with the judgment in the appeal.

(3.) This order be communicated to the respondent No. 5 forthwith.