In The Matter Of Koa Tools India Ltd vs Unknown
2012 Latest Caselaw 5829 ALL

HIGH COURT OF JUDICATURE AT ALLAHABAD
 
 

?Court No. - 5
 

 
Case :- COMPANY PETITION No. - 40 of 2012
 

 
Petitioner :- In The Matter Of Koa Tools India Ltd.
 
Petitioner Counsel :- Rajeev K. Goel,K.M. Garg
 

 
Hon'ble Rajes Kumar,J.

This is the petition under Sections 100 to 104 of the Companies Act, 1956. It is the contention of the Company that due to heavy losses and non-listing of some of the equity shares, the share holders of the Company in their annual general meeting resolved to reduce the share capital. Copy of the resolution is Annexure-A-1. In paragraph-12 of the petition, it is stated that there is no secured creditor as on 30.9.2012 and in paragraph-13 of the petition, it is stated that there are eight unsecured creditors. All the unsecured creditors have given their consents/NOC for the proposed reduction of capital. The copies of the consents/NOC are Annexure-8. The Bombay Stock Exchange and the U.P. Stock Exchange have also given no objection approval letters, which are Annexure-A-9.

Let the petitioner may make an advertisement in two newspapers, namely, Economic Times (English) Delhi Edition and Dainik Jagran (Hindi) Delhi Edition as well as Ghaziabad Edition. The publication be made within a week.

List on 17.1.2013 before the appropriate Bench.

Order Date :- 3.12.2012

OP