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NATIONAL COMPANY LAW TRIBUNAL
Khetrabasi Biswal, Kaushalendra Kumar Singh, JJ
Orange Business Services India Technology Private Limited – Appellant
Versus
Orange Business Services India Solutions Private Limited – Respondent
| Table of Content |
|---|
| 1. application filed under companies act for restructuring. (Para 1 , 4 , 6) |
| 2. court observations on compliance and stakeholder protection. (Para 2 , 3 , 5) |
| 3. consent from shareholders and creditors obtained. (Para 7) |
| 4. court's directions for meetings and approvals. (Para 8) |
| 5. final order granting application for restructuring. (Para 10) |
(JUDICIAL)
Present:
2.Applicant Company No. I and Applicant Company No. II have prayed for seeking direction for convening the meeting of its equity shareholders and unsecured creditors and also to issue and publication of notices for the same.
FACTS OF THE CASE
(i) Applicant Company No. I is a company duly incorporated on July 10, 2007 as private limited company under the provisions of the Companies Act, 1956 with the Registrar of Companies, NCT of Delhi and Haryana. The authorised capital of the Applicant Company No. I is INR 1,50,00,00,000 (Indian Rupees one hundred fifty crore only) divided into 15,00,00,000 (Fifteen crore) equity shares of INR 10 (Indian Rupees ten only) each of which 750,00,000 (Seven crore fifty lacs) equity shares were issued and INR 10 (Indian Rupees ten only) was paid up on each share issued. The clause III (B)
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