NORDSON INDIA PRIVATE LIMITED HAVING ITS REGISTERED OFFICE AT 143-A BOMMASANDRA INDUSTRIAL AREA BANGALORE-560 099, INDIA REPRESENTED BY ITS MANAGING DIRECTOR SRI SUPROTIK DAS Vs. NIL

JUDGEMENT

(1.) THIS petition is filed under Section 101 (3) to 104 of the Companies Act, 1956 seeking to reduce the share capital of the Company. It is stated that the Company was originally incorporated on 5.1.1995 under the provisions of the Companies Act, 1956 and its registered office situated 099. The authorised share capital of the Company is at 143 -A, Bommasandra Industrial Area, Bangalore -56015,00,00,000/ - divided into 1,50,00,000/ - equity sharesof 10/ - each. The Subscribed and Paid up share capital of the Company is 12,64,10,930/ - and the liability of the members is limited. It is submitted that the objectives of the Company are as follows:

(2.) IT is stated that the above said petitioner -Company is the subsidiary Company of Nor son Corporation, USA having a concept to set up manufacturing facilities of its products investing In Manufacturing Sector in India. The holding USA Company practically owns 100% shares of its subsidiary Indian Company. It is further stated in the petition that the Company proposes to reduce its share capital from 12,64,10,930/ - divided into 1,26,41,093/ -equity shares of 10/ - each to 9,14,10,930/ - It is further stated that on 28.1.2011, an Extra Ordinary General Meeting was held and it was resolved to reduce the said share capital. The said resolution of the Company has been filed before the Registrar of Companies, Bangalore, Karnataka. For reduction of the share capital, Board has been invested with powers in Articles of Association of the Company.

(3.) ACCORDINGLY , this petition is allowed. The Special Resolution resolving to reduce the share capital is hereby confirmed and the proposed minutes are hereby approved.