TMI Blog2016 (7) TMI 1654X X X X Extracts X X X X X X X X Extracts X X X X ..... idavit of compliance in the Court. Moreover, Petitioner Company also undertakes to comply with statutory requirements, if any, as required under the Companies Act, 1956 and the Rules made thereunder. No objector has come forward to oppose the proposed reduction. Since the requisite statutory procedure has been fulfilled, the Company Scheme Petition is made absolute - Application allowed. - Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Company empowers it to reduce its share capital in any manner which is permissible under the Act by passing a Special Resolution in any manner provided for in Section 100 to 105 of the Companies Act, 1956 or any statutory modifications thereof. 4. The Counsel for the Petitioner Company states that the shareholders of the Petitioner Company have at its Extra Ordinary General Meeting held on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10 (Rupees Ten) each fully paid up, by cancelling 4,39,55,681 (Four Crore Thirty Nine Lakhs Fifty Five Thousand Six Hundred and Eighty One) Equity shares of Rs.10/- each aggregating to Rs. 43,95,56,810/- (Rupees Forty Three Crores Ninety Five Lakhs Fifty Six Thousand Eight Hundred and Ten Only) bearing distinctive numbers 4,18,33,926 to 8,57,89,606 and by cancelling the entire 19,92,10,394 (Ninet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vementioned reduction in Preference and Equity Share Capital in the Profit Loss Account as on the date of obtaining the certificate from Registrar of Companies for the Proposed Reduction pursuant to section 103(4) of the Companies Act, 1956. Copy of the Special Resolution is annexed at Exhibit- E to the Petition. 5. Counsel appearing on behalf of the Petitioner Company states that the Peti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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