ORDER

1. The Company Petition No. 57 of 2014 was initially filed before the then Hon’ble Company Law Board (CLB), Chennai Bench. When the National Company Law Tribunal (NCLT), Chennai Bench, constituted, it was taken up in NCLT, Chennai as TCP No. 146 of 2016. Since the National Company Law Tribunal (NCLT), Kochi Bench, has been constituted for the cases pertaining to the state of Kerala and Lakshadweep Union Territory, the case is transferred to Kochi Bench of NCLT (Hereinafter referred as ‘Tribunal’). We have taken the case on record of NCLT, Kochi Bench and renumbered as TCP No. 23 of 2019.

2. The Canning Industries Cochin Limited, was incorporated as a Public Limited company on 25^th March, 1947 under the provisions of the Companies Act, 1913 (hereinafter referred as ‘the company’). The Authorised Share Capital of the company presently is equity share capital of ₹ 1,98,00,000 comprising of 6,60,000 shares at ₹ 30 each. The subscribed and fully paid up share capital as on 31.03.2013 was ₹ 62,30,520 comprising of 2,07,684 equity shares of ₹ 30 each. Thereafter, the respondents allotted 1,70,060 shares of ₹ 30 each at a premium of ₹ 95 at a Board Meeting on 23.11.2013. The 1^st petiti