THAKRAL SERVICES INDIA LTD Vs. STATE

JUDGEMENT

(1.) PETITIONER has preferred this petition under Sections 100 to 104 of the Companies Act, 1956 for confirming the reduction of share capital.

(2.) PETITIONER M/s. Thakral Services (India) Limited was registered with the Registrar of Companies in Karnataka on 25.01.1983 as per the provisions of Companies Act, 1956, as a limited company. Earlier to it was run under the name and style of "Parvidhgaar Leasing Private Limited". Subsequently petitioner company changed its name to "Parvidhgaar Leasing and Finance Limited" with effect from 18.11.1985 and thereafter changed its name to "Primeast Investments Limited" with effect from 16.11.2004 and was again renamed as "Thakral Services (India) Limited with effect from 06.02.2007. Registered office of the petitioner company is located at the address shown in the cause title. PETITIONER company is engaged in the business of providing computer services and facilities for data processing, system designing, software and allied electronic data processing equipment, and provide Management and System consultancy services as stated in the Memorandum and Articles of Association. Copy of which is appended to the present petition as per Annexure-A.

(3.) PETITIONER company filed an application in C.A.92/2011 seeking direction to advertise the petition and for settlement of list of creditors being dispensed with. This Court by order dated 04.02.2011 has allowed C.A.92/2011 and dispensed with creditors list. This Court had also permitted the applicant to take out advertisement of petition in "The Hindu", Bangalore edition. English daily and also "Udayavani", Bangalore edition, Kannada daily by fixing the date as 11.03.2011. Accordingly petitioner has taken out paper publication and matter was listed before Court on 11.03.2011 and there was no objections received to the petition. Even till today no shareholder or creditor has appeared before this Court and to oppose reduction of share capital.