Tata Petrodyne Limited Vs
Case brief
What is this about?
The Court confirmed a petition by Tata Petrodyne Limited to reduce its Securities Premium Account as approved by shareholders. With no opposing party appearing and statutory requirements fulfilled, the petition was made absolute.
What did the court decide?
The petition for reduction of Securities Premium Account is made absolute in terms of prayer clauses (a) and (b).
What the court decided
1
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY SCHEME PETITION NO. 843 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 |
Mr. Hemant Sethi i/b Hemant Sethi & Co., Advocates for the Petitioner
CORAM: N.M JAMDAR , J DATE: 11th January 2013
Issues for consideration
1 issue framed by the court
Whether the petition for reduction of Securities Premium Account requires any opposition before being made absolute.
Parties & counsel
- petitioner
Tata Petrodyne Limited
Coram
N.M Jamdar
Case details
As recorded by the court registry
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