2016 (10) TMI 437

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....e present application filed by the 14 applicants 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 ....

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....y the parties 5 30.03.2011 Sri Lakshmi Poultry Complex Provided collateral security for the loans by the 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 20....

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....ee given or to the security provided, notwithstanding any agreement to the contrary within 6 months from the commencement of the Act or further extension of not exceeding 6 months with the grant of Central Government. As per 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 int....