Delhi High Court - Orders
Dr Manikarnika Lagu vs Union Of India & Ors on 11 October, 2022
Author: Yashwant Varma
Bench: Yashwant Varma
$~30
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ W.P.(C) 8708/2021, CM APPL. 27141/2021(Interim Stay)
DR MANIKARNIKA LAGU ..... Petitioner
Through: Mr. Brijesh Johar, Adv.
versus
UNION OF INDIA & ORS. ..... Respondents
Through: Mr. Dev P. Bhardwaj, Govt. Counsel
for UOI with Ms. Anubha Bhardwaj,
Ms. Ankita Gautam and Mr. Sarthak
Anand, Advs.
Mr. Kunal Cheema, Ms. Aditi
Deshpande and Mr. Shivam Dube,
Advs. for R-2.
CORAM:
HON'BLE MR. JUSTICE YASHWANT VARMA
ORDER
% 11.10.2022
1. The instant writ petition has been preferred for directions being framed commanding the first respondent to complete the process for transfer of 6400 equity shares as well as for the release of unpaid dividends.
2. Pursuant to the orders passed during the pendency of the present matter, it is admitted that the equity shares have been duly transmitted. Insofar as the unpaid dividends are concerned, learned counsel representing the first respondent, the Investor Education and Protection Fund ["IEPF"] submits that all dividends received and which stand credited to the IEPF shall be released within a period of three weeks from today.
3. The petitioner also raises the issue of certain dividends which are Signature Not Verified Digitally Signed By:NEHA Signing Date:12.10.2022 12:00:55 presently held by the respondent private companies and which have not been transferred to the IEPF.
4. Learned counsel representing those private companies apprises the Court that the dividends were not transmitted in light of an order of status quo which operated in the present writ petition.
5. In that view of the matter, the restraint of status quo shall stand discharged. The Court leaves it open to the private respondent companies, namely respondent Nos. 2 and 3 to consequently transmit whatever dividends are presently held and retained by them to the IEPF. IEPF may, in turn and on receipt of those dividends, transmit the same to the petitioner with due expedition.
6. The writ petition stands disposed of on the above terms.
YASHWANT VARMA, J.
OCTOBER 11, 2022 bh Signature Not Verified Digitally Signed By:NEHA Signing Date:12.10.2022 12:00:55