9911796707
TMI Blog2012 (3) TMI 41X X X X Extracts X X X X X X X X Extracts X X X X ..... Company. It is stated that the Company was originally incorporated or1 5.1.1995 under the provisions of the Companies Act, 1956 and its registered office situated at 143-A, Bommasandra Industrial Area, Bangalore-560099. The authorised share capital of the Company is Rs. 15,00,00,000/- divided into 1,50,00,000/- equity shares of Rs. 10/- each. The Subscribed and Paid up share capital of the Compan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l varieties, mixtures, descriptions, specifications, coverages, characteristics and applications of adhesives, sealants and coatings to be applied to a broad range of consumer and industrial products and to do all incidental acts and things necessary for the attainment of the above objects". It is stated that the abovesaid petitioner-Company is the subsidiary Company of Nordson Corporation, USA h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... due to the recessionary conditions especially in Manufacturing Sector which has a direct bearing on the proposed business of abovesaid Company, the Board has decided to postpone the expansion of the Company till the economic scene improves. Hence, it is decided to reduce the share capital and to take the amount to USA, for better use. The Company has been exempted from sending the explanatory sta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of paid-up share capital. Further, this Court has also dispensed with the notice to the Creditors vide order dated 4.11.2011 in COA 721/2011. Having regard to the aforesaid facts, I am of the opinion that the Company may be permitted to reduce the share capital to Rs. 9,14,10,930/- made up of 91,41,093 equity shares of Rs. 10/- each. 3. Accordingly, this petition is allowed. The Special Resolu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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