TMI Blog2015 (2) TMI 1359X X X X Extracts X X X X X X X X Extracts X X X X ..... with the Registry. - COMPANY PETITION NO.287 OF 2014 IN COMPANY APPLICATION NO.1869 OF 2014 - - - Dated:- 2-2-2015 - THE HON BLE MR.JUSTICE RAVI MALIMATH For the Appellant : Sri Saji P.John Smt.B.Rajashree, Advocates ORDER This petition is filed seeking reduction of the share capital as narrated in the petition therein. By an order dated 18.12.2014, settling of the list of the creditors were dispensed. Thereafter, publication is taken out in The Hindu English Daily and in Udaya Vani Kannada daily. The Extraordinary General Meeting of the shareholders of the petitioner company was held on 02.12.2014 and the shareholders unanimously resolved as follows: RESOLVED THAT pursuant to the provisions of Section-100 to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ticle 46 of the Table A, of Companies Act, 1956 and Article 38 of Table F of the Companies Act, 2013 and subject to confirmation of the High Court of Karnataka or any other competent authority as may be specified in this regard, the Securities Premium Account be reduced by a sum of ₹ 33,58,21,573/- (Rupees Thirty Three Crores Fifty Eight Lakhs Twenty One Thousand Five Hundred and Seventy Three Only), from ₹ 35,80,66,120/- (Rupees Thirty Five Crores Eighty Lakhs Sixty Six Thousand One Hundred and Twenty Only) to ₹ 2,22,44,547/- (Rupees Two Crores Twenty Two Lakhs Forty Four Thousand Five Hundred and Forty Seven Only) by adjustment and setoff of the said amount against the debit balance in the profit and loss account after a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Fifty Eight Lakhs Twenty One Thousand Five Hundred and Seventy Three Only) against the debit balance in the profit and loss account of the company. 4. There is no impediment to accept the said resolution. Consequently, the petition is allowed. 5. The order including the minutes shall be delivered to the Registrar of Companies within twenty one days from the date of receipt of a certified copy of this order. The notice of reduction of paid-up equity share capital and securities premium account, shall be published in the English Daily The Hindu and Kannada Daily Udaya Vani Bangalore edition within fifteen days from the date of registration of the order and minutes by the Registrar of Companies and a copy thereof shall be filed by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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