9911796707
TMI Blog2021 (6) TMI 317X X X X Extracts X X X X X X X X Extracts X X X X ..... as "Applicant"), through its authorized representative Mr. Rajender Sehrawat, being the Director, who has been authorized vide Board Resolution dated 15.12.2017, seeking approval for reduction of share capital. 1. Brief averments of the Application are that the Applicant Company was incorporated on 11th August, 1994 under the provisions of the Companies Act, 1956, as a Private Limited Company, having its registered office at F-33/8, Okhla Industrial Area, Phase-II, New Delhi-110020. The Applicant Company has 5 directors and 6 Shareholders. It is further submitted that, the Company has NIL secured creditors and NIL unsecured creditors. The present Share Capital of the company is Rs. 1,00,00,000/- (Rupees One Crore Only) divided into 10,00,0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 100 Lacs to INR 1 Lacs in future to optimize its Resources. b) That this Hon'ble Tribunal may pass such further or other orders as it may deem fit and proper in the facts and circumstances of the case. 5. Clause 17 of the Articles of Association of the Company, it is provided that the Company may, from time to time, by Special Resolution, reduce its capital in any manner and with, and subject to, any incident authorised, and consent required by law. 6. It has been stated that at the Extra Ordinary General Meeting (EGM) held on 15th of December 2017, a special resolution was passed in accordance with section 66(1) of the Companies Act, 2013 approving the proposed reduction of share capital. 7. The Applicant submits that the form of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eduction of capital has been examined and state the following; i. The Company is regular in filing the statutory returns and there is no complaint/prosecution/investigation is pending against the Company and hes no objection to the Scheme. ii. The company has not served notice in accordance with the NCLT rules, hence directions to be given to file Form RSC-2 accompanies with relevant disclosures in e-form GNL-1 forthwith. 10. Notice has been served to income tax department. However, the only objection raised by the income tax department is with regard to an outstanding demand towards fringe benefit tax amounting to Rs. 6954/- (Six Thousand Nine Hundred Fifty Four) only. That the petitioner has already deposited the said amount and the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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