LOOP MOBILE HOLDINGS INDIA LTD. Vs. STATE

JUDGEMENT

(1.) THE petitioner, a company originally incorporated on 31 -12 -1993 in the State of Karnataka under the name Tangelo Securities Private Limited, changed its name to BPL Cellular Holdings Limited, by a fresh certificate of incorporation dated 1 -6 -1995 and yet again to BPL Communications Limited on 14 -7 -2000 and thereafter to the present name i.e. Loop Mobile Holdings India Limited, on 21 -5 -2009, by securing the fresh certificate of incorporation. The address of the registered office of the petitioner -company (for short 'Transferee Company'), is as shown in the cause -title.

(2.) THE Transferee -Company is engaged in the promotion of cellular mobile telephony ventures, amongst other objects as set out in the memorandum and articles of association Annexure 'A'.

(3.) THE Balance Sheet as on 31 -3 -2008 duly audited by the auditors of the Transferee -Company Annexure -'D', discloses its assets and liabilities including accumulated loss of Rs. 4,82,50,56,535.