Tata Petrodyne Limited Vs
Case brief
What is this about?
Bench allowed a scheme petition seeking confirmation for reduction of Securities Premium Account. No opposition was presented. Court held petition absolute as statutory requirements and creditor rights were not affected.
What did the court decide?
Petition made absolute and company directed to register order and publish notices.
What the court decided
1
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY SCHEME PETITION NO. 841 OF 2012
In the matter of the Companies Act, 1956 (1 of 1956)
AND
In the matter of the Sections 78 and 100 to 105 of the Companies Act, 1956;
AND
In the matter of reduction of Securities Premium Account (Share premium Account) of Tata Petrodyne Limited
Tata Petrodyne Limited, a Company } incorporated under the Companies } Act, 1956, having its Registered Office } at Bombay House, 24, Homi Mody Street, } Mumbai - 400001. } ……… Petitioner Company
Called for Hearing
CORAM: N.M JAMDAR , J DATE: 11th January 2013
Issues for consideration
1 issue framed by the court
Whether a company can reduce its Securities Premium Account with compliance of statutory procedure under Sections 100 to 105 of the Companies Act, 1956.
Parties & counsel
- petitioner
Tata Petrodyne Limited
Coram
N.M Jamdar
Case details
As recorded by the court registry
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