9911796707
TMI Blog2015 (3) TMI 1396X X X X Extracts X X X X X X X X Extracts X X X X ..... g held on 13.01.2015 which reads as hereunder is confirmed - Form of minutes under Section 103(1) of the Act as set out below is approved. - COMPANY PETITION NO. 17/2015 - - - Dated:- 12-3-2015 - THE HON'BLE MR. JUSTICE A.S.BOPANNA FOR THE APPELLANT : BY SRI.SAJI P.JOHN B RAJASHREE, ADVOCATES FOR THE RESPONDENT : (BY SMT. A.D.SANGEETHA, ADVOCATE FOR S.R. SHIVAPRAKASH, OBJECTORS) O R D E R The petitioner-company is before this court seeking that the petition be allowed and they be permitted to reduce the capital and the Securities Premium Account as resolved by the Extraordinary General Meeting held on 13.01.2015 and in terms of the modified resolution passed by the Board of Directors through resolution date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... juncture they have no objection for this court to consider the petition and accord sanction for reduction in the share capital as has been presently sought in the modified resolution. 3. It is to be noticed that at the first instance, the share capital of ₹ 492,32,89,808/- was proposed to be reduced to ₹ 476,14,24,110/- In the said reduction, the share money of 189 public shareholders, who have now objected to the same, was also included. However, in view of addressing their grievances and the petitioner company having agreed to retain their share money, reduction in the proposed capital comes to ₹ 483,66,21,630/-. In that regard, a perusal of the resolution would indicate that the excess money is sought to be paid sin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rovals of the appropriate authorities as may be required, and such other terms, conditions or modifications if any, as may be prescribed by such authorities while granting such approvals, consents or permission and which may be agreed to by the Board of Directors of the Company (hereinafter referred to as the Board which expression shall be deemed to include any Committee of Directors constituted by the Board), the issued, subscribed and paid up equity share capital of the Company be reduced from ₹ 492,32,89,880/- (Rupees Four Hundred and Ninety Two Crores Thirty Two Lakhs Eighty Nine Thousand Eight Hundred and Eighty only), consisting of 49,23,28,988 (Forty Nine Crores Twenty Three Lakhs Twenty Eight Thousand Nine Hundred and Eigh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Six Lakhs Twenty One Thousand Six Hundred and Thirty only) consisting of 48,36,62,163 (Forty Eight Crores Thirty Six Lakhs Sixty Two Thousand One Hundred and Sixty Three) Equity Shares of ₹ 10/- (Rupees Ten only) each, fully paid up, reduced from ₹ 492,32,89,880/- (Rupees Four Hundred and Ninety Two Crores Thirty Two lakhs Eighty Nine Thousand Eight Hundred and Eighty only), consisting of 49,23,28,988 (Forty Nine Crores Twenty Three Lakhs Twenty Eight Thousand Nine Hundred and Eighty Eight) Equity Shares of ₹ 10/- (Rupees Ten only) each, fully paid up . The Securities Premium account of Wipro Enterprises Limited is henceforth ₹ 1684,89,09,653/- (Rupees One Thousand Six Hundred and Eighty Four Crores Eighty Nine L ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
