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NATIONAL COMPANY LAW TRIBUNAL
SHRI DR. SANJEEV RANJAN, SHRI BACHU VENKAT BALARAM DAS, JJ
VENKATESH COKE AND POWER LIMITED – Appellant
Versus
Thyssenkrupp Industries India Private Limited (now known as TKIL Industries Private Limited) – Respondent
| Table of Content |
|---|
| 1. petition filed for capital reduction. (Para 1 , 2 , 3 , 4) |
| 2. company's articles allow capital reduction. (Para 5 , 6 , 7) |
| 3. compliance with financial regulations confirmed. (Para 8 , 9 , 10 , 11) |
| 4. regulatory bodies have no objections. (Para 12 , 13) |
| 5. creditor's concerns addressed. (Para 14 , 15) |
| 6. court's analysis of objections. (Para 16 , 17 , 18) |
| 7. legal standing of creditor's submission. (Para 19) |
| 8. order dismissing capital reduction. (Para 20) |
ORDER
1. The present Petition has been filed by Venkatesh Coke and Power Limited, the Petitioner Company before this Tribunal, under Section 66 of the Companies Act, 2013 (“the Act”) read with Rules of the National Company Law Tribunal (Procedure for reduction of share capital of Company) Rules, 2016. Upon the Scheme becoming effective, 15,84,080 (Fifteen Lakhs EightyFour Thousand and Eighty) fully paid-up Equity Shares of the Company of held by the Struck Off Shareholder shall be cancelled and extinguished and consequently, the paid-up Equity Share Capital of the Company as on the effective date shall become INR 3,69,94,820/- (Indian Rupees Three Crore Sixty-Nine Lakh Ninety-Four Thousand Eight Hundred and Twenty only)
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