TMI Blog2021 (6) TMI 194X X X X Extracts X X X X X X X X Extracts X X X X ..... mpany indicating the details containing the proposed reduction of share capital of the Company. The Applicant Company is directed to file the proof of newspaper publication by way of an affidavit. The Registry is directed to place the matter before this Bench within 15 days after expiry of the 90 days period of notice. - CA/542/2020 - - - Dated:- 5-5-2021 - R. Sucharitha, Member (J) And B. Anil Kumar, Member (T) For the Appellant : N. Ramanathan, PCS for S. Dhanapal Associates ORDER R. Sucharitha, Member (J) 1. Under consideration is an application filed under Section 66 of the Companies Act, 2013 by M/s. KADAIESHWAR HOMEFIN PRIVATE LIMITED (hereinafter called as, 'Applicant Company'). The purpose of the ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e resolution dated 29.06.2020 have approved the proposed reduction. The Company has also approved the proposed reduction in its Extra-Ordinary General Meeting convened on 30.06.2020, the matter was discussed and following special resolution was passed:- RESOLVED THAT pursuant to section 66(1) of the read with section 52 and other applicable provisions, if any, of the Companies Act 2013 read with Article 37 of the Articles of Association and other applicable Articles of the Company and subject to confirmation of the NCLT and subject to such other approvals, consents, permissions or sanctions of any other authority, body or institution as may be required, and subject to such other conditions or guidelines, if any, as may be prescribed or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o Only) being in excess of the needs of the Company be paid by either Cheque or other approved payment mode and upon which, said 56249 -0.01 Preference Share of the Company held by shareholders, shall stand cancelled to extent specified above and upon such cancellation of 562,491 -0.01 Preference Shares, issued, subscribed and paid up 0.01/-. Preference share capital of the Company shall stand reduced in full without any further act or deed. 3. On perusal of the application, the Applicant Company has 5 (Five) members holding the entire issued and paid up capital equity shares which constitutes 100% of the paid up capital voted in favour of the special resolution for approving the reduction of share capital. The Company has NIL secured a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 13 and the rules made thereunder and certified that the proposed accounting treatment is in accordance with the Accounting Standards specified under section 133 of the Companies Act, 2013. 8. Taking into consideration the submissions of the Applicant Counsel and after perusing the record, since there is neither Secured Creditor nor Unsecured Creditor of the Applicant Company. However, the Applicant Company is directed to make publication on or before 20.05.2021 in the newspapers one in English i.e. Business Standard (All India edition) and one in Vernacular i.e. Malai Malar (Tamilnadu edition) having wide circulation specifically containing the proposed reduction of share capital of the Company. A notice copy shall also be uploaded on th ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
