2016 (7) TMI 1656

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....OF THE ORDER UPON the Application of above named Company by a Summons for Directions dated 14th Day of June, 2016 AND UPON HEARING Mr. Hemant Sethi, i/b Hemant Sethi & Co. Advocates for the Applicant Company AND UPON reading the Affidavit dated 14thday of June, 2016 of Ms. Shilpa Sethi, Senior Manager, Legal and Company Secretary of the Applicant Company AND Clause 4(B) of the Articles of Assoc....

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....ty Nine Thousand Six Hundred and Six) Equity shares of Rs.10 (Rupees Ten) each fully paid up and 19,92,10,394 (Nineteen Crore Ninety Two Lakhs Ten Thousand Three Hundred and Ninety Four) 8.5% Non-Convertible Cumulative Redeemable Preference Shares of Rs.10 (Rupees Ten) each fully paid upshall be reduced to Rs. 41,83,39,250 (Rupees Forty One Crore Eighty Three Lakhs Thirty Nine Thousand Two Hundred....

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....Hundred and Forty Only) bearing distinctive number 1 to 19,92,10,394, by adjusting against the debit balance of Profit & Loss Account aggregating to Rs. 2,37,08,69,231.25 and by paying an aggregate cash consideration of Rs.6,07,91,518.75 to equity and preference shareholders and pursuant to extinguishing the paid up Equity and Preference Share Capital and payment of the cash consideration as afore....