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TMI Blog2015 (6) TMI 1224X X X X Extracts X X X X X X X X Extracts X X X X ..... inute proposed to be registered - Application allowed. - COMPANY PETITION No.113 of 2015 - - - Dated:- 9-6-2015 - SRI C.V.NAGARJUNA REDDY, J. For the Petitioner: Mr.Suryanarayana Yellapantula ORDER This company petition is filed under Sections 100 to 104 of the Companies Act, 1956 (for short the Act ) read with Rule 46 of the Companies (Court) Rules, 1959, for confirming the reduction of share capital. The petitioner is a company incorporated under the Act on 24.12.1999. A fresh certificate of incorporation on conversion to public company was obtained by it on 23.04.2003. Again a fresh certificate of incorporation upon change of its name was obtained by it on 09.12.2013. Its registered office is situated at H.No.8-2-703 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Directors in its meeting held on 01.12.2014 decided to reduce 60% of the paid up equity share capital of the company by cancelling and extinguishing 60% of the equity shares of the company of face value of ₹ 5/- each and by returning to the shareholders at a premium of ₹ 11.50ps i.e., at ₹ 16.50ps per share each. That consequent on reduction, its issued, subscribed and paid up equity share capital will be reduced to ₹ 7,80,73,940/- consisting of 1,56,14,788 equity shares of ₹ 5/- each. That its Board of Directors has approved the reduction of share capital by its resolution passed on 01.12.2014. That a notice calling for extra general meeting for consideration of proposed reduction of share capital was issu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y Three Thousand Nine Hundred and Forty only) divided into 1,56,14,788 (One Crore Fifty Six Lakhs Fourteen Thousand Seven Hundred Eighty Eight) Equity shares of ₹ 5/- (Rupees Five only) each reduced from ₹ 19,51,84,850/- (Rupees Nineteen Crores Fifty One Lakhs Eighty Four Thousand Eight Hundred and Fifty only) divided into 3,90,36,970 (Three Crores Ninety Lakhs Thirty Six Thousand Nine Hundred and Seventy only) equity shares of ₹ 5/- (Rupees Five only) each. At the date of Registration of this Minute 1,56,14,788 (One Crore Fifty Six Lakhs Fourteen Thousand Seven Hundred Eighty Eight) Equity shares of ₹ 5/- (Rupees Five only) each have been issued and are deemed to be fully paid up. In the light of the facts plead ..... X X X X Extracts X X X X X X X X Extracts X X X X
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