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"On behalf of Defendant Nos. 1 to 3, it is submitted that the said Defendants are willing to deposit a sum of Rs. 10,00,000/- in this Court. Mr. Pavan Sachdeva, submits that subject to the said deposit, he has no objection if the decree is set aside and the matter is heard on merits. Accordingly, demand draft no. 113639 drawn on State Bank of India, Maheshnagar, Indore Branch dated 16th July, 2019 for a sum of Rs. 10,00,000/- is taken on record. The same be encashed in the account of the Registrar General and be retained in an interest bearing FDR. I.A. No. 12411/2018 and 12412/2018 are allowed in the above terms.

69. The said letter (Fax Message) dated 21st April 1995 reads as under:

            "No.                Date
            CFO/95       April 21, 1995
                             FAX MESSAGE
            FOR MR. PAVAN SACHDEVA, CMD, MS SHOES
            EAST LTD., NEW DELHI
            FROM MR. H. KUNDU, DOM, SBICAPS, NEW DELHI

            Reg: MS Shoes East Ltd. - Public Issue of FCDs

With reference to the captioned issue, we forward herewith for your information and necessary action, copy of letter No. PMD/PVK/95 dated April 21, 1995 received from SEBI stating inter alia that as the Company has failed to receive 90% of the minimum subscription amount within 60 days of the closure of the issue, as mentioned in the prospectus, it has become incumbent upon the Company to refund the entire amount forthwith to all the applicants.