JUDGMENT

S.B. Sinha, J.—Leave granted.

INTRODUCTION :

2. Interpretation of Section 34 of the Indian Trusts Act, 1882 (for short, ‘the Act’) is involved in this appeal which arises out of a judgment and order dated 06.02.2006 passed by a Division Bench of the Calcutta High Court in APOT No. 584 of 2005, affirming a judgment and order of a learned Single Judge of the said Court.

BACKGROUND FACTS :

3. M/s Dunlop India Ltd. (for short, ‘the Company’) is an existing company within the meaning of Section 3(1)(ii) of the Companies Act, 1956. The Company floated a Fund known as ‘Dunlop Executive Staff Pension Fund’ for providing pension and annuities to the members of the executive management staff of the Company. Clause (3) of the said deed reads as under :

“These presents shall constitute a trust upon and subject to the Rules and to the law for the time being in force in India relating to Pension Funds which trust irrevocable and no moneys belonging to the Fund in hand of the trustees shall be recoverable by the Company or shall the Company have any lien or charge of any description on the same.”

4. Part I of the said deed provides for the ‘Rules of Dunlop Executive Staff Pension Fund.

“Memb