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NATIONAL COMPANY LAW TRIBUNAL
DR. BINOD KUMAR SINHA, MEMBER (TECHNICAL), BACHU VENKAT BALARAM DAS, MEMBER (JUDICIAL)
HOTEL QUEEN ROAD PRIVATE LIMITED. VS
| Table of Content |
|---|
| 1. petitioner unable to redeem shares due to financial difficulties. (Para 1 , 5 , 8) |
| 2. minority shareholders lack locus to contest validly consented applications. (Para 19 , 20 , 25) |
| 3. tribunal evaluated financial ability for redeeming preference shares. (Para 29 , 30 , 40) |
COMMON ORDER
PER: BENCH
1. This Company Petition bearing CP No. 08/ND/2022 has been filed under section 55 (3) of the Companies Act 2013 read with Rule 11 & 69 of the National Company Law Tribunal Rules, 2016.
2. The Petitioner-company is a Public Company incorporated on 23.08.2001 under the provisions of erstwhile Companies Act, 1956. The Petitioner company is limited by shares. The present total authorized Capital of the Petitioner is Rs. 65,00,00,000. Out of the said total the Authorized Capital for Preference Shares is Rs. 30,00,00,000, while the actual paid up capital representing Preference Shares is Rs. 28,29,29,000 divided into 28,29,290 Preference Shares of Rs. 100 each. The remaining Authorized Capital for Equity Shares is Rs. 35,00,00,000 of which Paid Up Capital is Rs. 10,90,41,700 divided into 1,09,04, 170 equity shares of Rs. 10 each.
3. It is submitted that the Petitioner Company has b
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