9911796707
TMI Blog2019 (5) TMI 390X X X X Extracts X X X X X X X X Extracts X X X X ..... o the members of the creditors of the Petitioner Company. The Petitioner is hereby directed to file with the Registrar of Companies, Hyderabad, a certified copy of the order of this Bench in the prescribed e-form together with a printed copy of the altered Articles of Association as also with requisite fee within a period of 15 days in terms of the provision of Section (2) of Section 14 of the Companies Act, 2013, read with Rule 161 of NCLT Rules, 2016. - CP No. 380/14/HDB/2018 And CP No. 382/14/HDB/2018 - - - Dated:- 7-1-2019 - MR K. ANANTHA PADMANABHA SWAMY, MEMBER JUDICIAL For The Petitioner : Shri D.V.A.S. Ravi Prasad, W. Murali Krishna, Smt. D. Sravani and G. Sai Prasen, Advocates For The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly) Equity shares of ₹ 10/- each. The Board of Directors of the Company comprises Three (3) Directors and Eight (8) Shareholders. The Board of Directors of the Petitioner Company has passed a resolution at the meeting of the Board on 19.02.2018, approving the proposed alteration of the Articles of Association of the Company and decided to call an Extra-ordinary General Meeting (EoGM) of the Members of the Company, on 16.03.2018, to obtain consent on this line. After due notice to the members, EoGM has been and held on 16.03.2018. A Resolution has been passed at the said EoGM pursuant to the Sections 13 14 of the Companies Act, 2013 and other applicable provisions and rules made thereunder, for conversion of the Company into a 'P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... isement has been published once in Business Standard in English on 25.08.2018 and Andhra Bhoomi in vernacular on 25.08.2018 and also served notice to the Regional Director, Southern Eastern Region, Ministry of Corporate Affairs as well as Registrar of Companies, Hyderabad. 4. The Registrar of Companies, Hyderabad in its report dated 22.11.2018, while reiterating the averments made in the Petition stated that the Company is up to date in filing its returns and there is no prosecution has been filed against the Company and its Directors. 5. The matter was finally heard on 11.12.2018 when the learned counsel appearing for the Petitioner Company has submitted that the required mandate under Rule 68 of the Natio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... down a procedure for the filing of a petition before the Tribunal for approval to conversion of a status of the Company from Public to Private and vice versa. A Company desirous of converting its status is, therefore, required to comply with and follow the requirements as framed under Rule 68 of the NCLT Rules, 2016. 7. Perused the case record and considered the submissions of Shri D.V.A.S. Ravi Prasad, Counsel appearing for the Petitioner. It is seen from records that the Board Resolution for conversion was passed by the Board of Directors of the Company on 19.02.2018 and thereafter, at the EoGM held on 16.03.2018, three Directors and six Members of the Company had attended and unanimously approved the conversion resolution ..... X X X X Extracts X X X X X X X X Extracts X X X X
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