SURABHI CHITS LIMITED Vs. NIL

JUDGEMENT

(1.) APPLICANT , M/s. Surabhi Chits Limited, the transferee company has filed this application seeking for dispensation of convening of the meetings of the equity shareholders and creditors for the purpose of approving the scheme of amalgamation where under the company M/s JNR Surabhi Chits Limited proposed to be merged with the applicant Company as per Annexure F.

(2.) THE applicant company was incorporated on 2nd December, 1991 under the provisions of the Companies Act 1956 under the name and style of "Surabhi Chits Limited" in the State of Kamataka with registration No. U8511 OKA 1991 PLCO12571. The applicant company was convened into a public limited company and consequently the name was changed as "Surabhi Chits Limited" with effect from 21 -12 -1998. The registered office of the applicant company is situated at No. 24/1, Adarsha Complex, Crescent Road, Bangalore.

(3.) AUTHORISED capital of the applicant company is Rs. 1,50,00.000 -00 divided into 1,50,000 equity shares of Rs. 100/ - each. Issued, subscribed and paid up capital is Rs. 1,10,00,000 -00 divided into 1.10,000 equity shares of Rs. 100/ - each.