2016 (10) TMI 437

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....nts as mentioned above under section 621A read with section 295 of the Companies Act, 1956 and Regulation 14 of the Company Law Board Regulations, 1991. 3. K.P.R. Agrochem Limited was originally incorporated as K.P.R Fertilizers Private Limited on 2nd January, 2007 as Private Limited Company and converted in to Public Limited Company on 19th December, 2008. The Corporate Identity Number (CIN) of the company is U24129AP2007PLC052216. On 21st September 2015, the company has changed its name to K.P.R. Agrochem Limited. The Registered Office of the Company is situated at Door No. 8-256, Tata Nagar, Balabhadrapuram-533 343, Andhra Pradesh. Authorised Share Capital is Rs. 125,00,00,000/- (Rupees One Hundred and Twenty Five Crores only) divided ....

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....e parties 6 05.05.2011 1. Sri Lakshmi Agro Warehouse Provided collateral security for the loans by the parties 2. Sai Swarupa Agro Storage   7 10.10.2011 1. Sri Lakshmi Agro Warehouse Provided collateral security for the loans by the parties 2. Sai Swarupa Agro Storage   8 21.12.2011 1. Sri Lakshmi Agro Warehouse Provided collateral security for the loans by the parties 2. Sai Swarupa Agro Storage   9 30.11.2012 1. Sri Lakshmi Poultry Complex, Hospet Provided collateral security for the loans by the parties 2. Padmaja Farms   10 2012-13 Padmaja Farms Given Advance to the relative of a Director 11 26.02.2014   Provided collateral security for the loans by the parties   As per s....

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....er section 295(4) of the Companies Act, 1956, every person who is knowingly the party to the contravention of sub-section (1) or (3) including any particular person to whom the loan is made (or) who has taken the loan in respect of which guarantee is given or the security is provided, shall be punishable either with fine which may extend to Rs. 50,000/- or with simple imprisonment for a term which may extend to 6 months. It is further stated that the applicants have committed the said violation without any mala fide intention, wilful or wanton. It is further contented that the above violation did not cause any prejudice to any of the shareholders or any other stakeholders. They also contend by accepting the violation as mentioned above and....