2012 (3) TMI 41

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....ing to reduce the share capital of the Company. It is stated that the Company was originally incorporated or1 5.1.1995 under the provisions of the Companies Act, 1956 and its registered office situated at 143-A, Bommasandra Industrial Area, Bangalore-560099. The authorised share capital of the Company is Rs. 15,00,00,000/- divided into 1,50,00,000/- equity shares of Rs. 10/- each. The Subscribed a....

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....t, job worker or otherwise to deal in all varieties, mixtures, descriptions, specifications, coverages, characteristics and applications of adhesives, sealants and coatings to be applied to a broad range of consumer and industrial products and to do all incidental acts and things necessary for the attainment of the above objects". It is stated that the abovesaid petitioner-Company is the subsid....

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.... is further submitted by the petitioner that due to the recessionary conditions especially in Manufacturing Sector which has a direct bearing on the proposed business of abovesaid Company, the Board has decided to postpone the expansion of the Company till the economic scene improves. Hence, it is decided to reduce the share capital and to take the amount to USA, for better use. The Company has be....