In this company petition, the Bombay High Court granted approval under Sections 100 to 104 of the Companies Act, 1956 for CyberTech Systems and Software Limited to reduce its Securities Premium Account to write off a debit balance in the Profit and Loss Account.
Petition made absolute for approval of reduction of Securities Premium Account.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
[ 1 ]
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION.
COMPANY PETITION No.788/2006. CONNECTED WITH
COMPANY APPLICATION No. 1193/2006.
In the matter of Sections 100 to 104 of the Companies Act, 1956.
And
In the matter of Reducation of the Securities Premium Account of Cyber Tech Systems and Software Limited.
Cybertech Systems and Software Ltd. ..Petitioner.
Mr Rajesh Shah i/b Rajesh Shah & Co. for the Petitioner.
CORAM: V.C . DAGA,J.
DATED: 9TH FEBRUARY,2007.
P.C.:-
| 1. | The | petitioner c | ompany | has filed this | |
|---|---|---|---|---|---|
| petition | under | Sec |
tions | 100 to |
104 of the |
| Companies | A | ct, | 1956 | to seek |
approval to the |
| reduction | of | the | Secu | rities Prem |
ium Account of |
| the | "Cyber | Tech |
Sy |
stems and |
Software Limited" |
| (hereinafter | referred | to as |
the "Petitioner |
||
| Company") | so as to | make the | reduct | ion |
effective. Perused petition.
| had | directed | to | advertise | the | same | stating | the |
|---|---|---|---|---|---|---|---|
| date | of | hearing | of | the | Petition | in | daily |
| newspa | pers | "Free | Press | Jou | rnal" | and |
has published
[ 2 ] "Navshakti" which the petitioner
as stated in it’s affidavit dated 8th January, 2007.
on record that the Equity Shareholders of the Petitioner Company have passed the resolution unanimously approving the reduction of the Securities Premium Account for writing off the
debit balance in the Profit and Loss Account.
complied all the requirements under Sections
100 to 104 of the Companies Act,1956.
petition is made absolute in terms of prayer
clause (a) and (b) with no order as to costs.
[V.C.DAGA , J]
1 issue framed by the court
Whether the High Court should grant approval under Sections 100 to 104 of the Companies Act, 1956 for the reduction of Securities Premium Account.
1 provisions across 1 enactments
Cybertech Systems and Software Limited
Office of the Registrar of Companies
V.C. Daga
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
