2021 (6) TMI 194

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..... m Rs. 1,02,88,709/- (Rupees One Crore Two Lakh Eighty Eight Thousand Seven Hundred Nine Only (including shares forfeited account to the tune of Rs. 8,70,699/-) divided into 3,79,310 equity shares of Rs. 10/- each and 562491-0.01% Preference shares of Rs. 10/- each to Rs. 46,63,799/- (Rupees Forty Six Lakh Sixty Three Thousand Seven Hundred Ninety Nine Only (including forfeited account to the tune of 8,70,699/-) divided into 379310 equity shares of 10/- each by reducing the existing preference share capital to the tune of Rs. 56,24,910/- (Rupees Fifty Six Lakh Twenty Four Thousand Nine Hundred Ten Only) divided into 5,62,491-0.01% Preference shares of Rs. 10/- each as selective reduction, being in excess of the wants of the company and the s .....

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..... al from Rs. 1,02,88,709/- (Rupees One Crore Two Lakh Eighty Eight Thousand Seven Hundred Nine Only (including shares forfeited account to the tune of 8,70,699/-) divided into 3,79,310 equity shares of Rs. 10/- each and 562491-0.01% Preference shares of Rs. 10/- each to Rs. 46,63,799/- (Rupees Forty Six Lakh Sixty Three Thousand Seven Hundred Ninety Nine Only (including forfeited account to the tune of 8,70,699/-) devised into 379310 equity shares of 10/- each by reducing the existing preference share capital to the tune of Rs. 56,24,910/- (Rupees Fifty Six Lakhs Twenty Four Thousand Nine Hundred Ten Only) divided into 5,62,491-0.01% Preference shares of Rs. 10/- each as selective reduction, being in excess of the wants of the company and th .....

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..... of the petition. 4. In view of the above, Shri N. Ramanathan, the learned Counsel for the Applicant Company has prayed for dispensing with issuing notices unsecured creditor of the Applicant Company and also issuing notices to the unsecured Creditors for publication of notice and as required in Form No. RSC-3 and Form No. RSC-4 respectively under the provisions of section 66(2) and 66(3) of the Companies Act, 2013 r/w the NCLT (Procedure for Reduction of Share Capital of Company) Rules 2016. 5. Learned counsel for the applicant company submitted that the Articles of Association (in short "AOA") of the company has adopted the regulations of the Companies Act, 2013 and clause 37 of the Articles of Association of the applicant company, from .....

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