9911796707
TMI Blog2022 (11) TMI 349X X X X Extracts X X X X X X X X Extracts X X X X ..... 20 each by cancelling the Equity share capital of Rs. 6.80 per Equity Share and that such reduced Issued, Subscribed and Paid up Equity Capital of Rs. 3,02,33,710 (divided into 94,48,035 of Rs. 3.20 each) shall be consolidated into 30,23,371 Equity Shares of Rs. 10 each in such a manner that every 100 (Hundred) equity shares of Rs. 3.20 each shall constitute 32 (Thirty Two) equity shares of Rs. 10 each fully paid-up. (b) Write off part of the Accumulated losses of the Company amounting to Rs. 6,42,46,640 (Rupees Six crores Forty-two lakhs forty six thousand six hundred forty Only) to effect the proposed Reduction. (c) Pass such other order that may be deem fit. Interim Reliefs:- 1) To issue directions to serve notice to the concerned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ded into 94,48,035 Equity Shares of Rs. 10 each to Rs. 3,02,33,710 (Rupees Three Crore Two Lakhs Thirty Three Thousand Seven hundred and Ten only) divided into 94,48,035 of Rs. 3.20 each thereby reducing the nominal value of Equity Shares from Rs. 10 each to Rs. 3.20 each per share by cancelling the Equity share capital of Rs. 6.80 per share and that such reduction be effected by writing off the Part of accumulated losses up to Rs. 6,42,46,640/-. ("Rounded off to nearest integer)." 3. The Statutory Auditors of the Applicant Company by their certificate dated 28.07.2022 annexed as 'Page 119-120' to the Application has confirmed that the Accounting Treatment proposed by the Company is in conformity with the Accounting Standards speci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ming that there are NO arrears of repayment of deposits and the same has been annexed at Annexure 7 to the Application. 7. The Certificate issued by the Statutory Auditor confirming that the Applicant Company has no default in arrears of repaying deposits has been annexed at Annexure 8 to the Application. The affidavit of the Managing Director and the Director of the company verifying that there are NIL Secured and NIL unsecured creditors in the company is placed as Annexure-6 of the Application typeset. 8. In consonance with the provisions of this Act as well as the rules framed thereunder, the Applicant Company amongst other documents, have also filed a certificate dated 28.07.2022 from the Statutory Auditor issued to the effect that th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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