Company Petition No. 32 of 2008 · Bombay High Court · 2008
Case at a glance
Provisions considered
- Companies Act, 2013 ss. 100, 101(2), 103
Judgment
Mr.Simil Purohit i/b. Kanga & Co. for the Petitioner. CORAM: A.M. KHANWILKAR J. DATE : 8th FEBRUARY 2008 PC:
Heard Learned Counsel for the parties.
The sanction of the Court has been sought for the reduction of share capital as approved in a Special Resolution passed by the Shareholders of the Petitioner 2 Company at an Extra Ordinary General Meeting held on 6th November 2007, in terms of the following Minutes:- The issued, subscribed & paid up capital of Welspun Syntex Limited is Rs.23,64,50,270 divided into 2,36,45,027 equity shares of Rs.10 each fully paid up, 32,03,300 optionally convertible cumulative preference shares of Rs.10 each paid up value Rs.1,93,63,667 and 1,00,00,000 10 % redeemable cumulative Preference shares of Rs.10 each paid up value Rs.8,33,33,000 reduced from Rs.94,58,01,090 divided into 9,45,80,109 equity shares of Rs.10/- each fully paid up, 32,03,300 optionally convertible cumulative preference shares of Rs.10 each paid up value Rs.1,93,63,667/- and 1,00,00,000 10 % redeemable cumulative Preference shares of Rs.10/- each paid up value Rs.8,33,33,000/- .
An order of dispensation was passed by this Court in respect of the procedure under Section 101(2) of the Companies Act, 1956 on 11th January 2008 in the Company Application No. 26 of 2008. 3
The Counsel of the Petitioner Company informs the Court that the Petitioner shall comply with the provisions of law as upheld by the Court of Law.
In these circumstances, the requisite statutory procedure has been fulfilled. Since no objection has been received, the Petition is made absolute in terms of prayer clauses (a) to (d).
All concerned parties to act on ordinary copy of order and the form of minutes annexed to this Petition. Petitioner to publish notices in the same newspapers and also in the Gujarat Government Gazette about registration of Order and minutes of reduction by the concerned Registrar of Companies, Gujarat. (A. M. Khanwilkar J.)
Questions this judgment answers
Which statutory provisions did this judgment involve?
Companies Act, 2013 — ss. 100, 101(2), 103.
Which court decided this case, and when?
Bombay High Court, on 08 Feb 2008. The bench was A M KHANWILKAR.
Precedent status how later indexed judgments have treated this case
No known negative treatment found in the Courts & Cases corpus.
This is a result about the indexed corpus, not a finding that the judgment remains good law. Coverage may be incomplete.