REGIONAL DIRECTOR Vs. MPHASIS LTD

JUDGEMENT

(1.) THE short question that arises for consideration is, whether on account of merger of a company, the transferee-company is required to pay registration fee due to consequential increase of authorised share capital of the transferee-company?

(2.) THE facts leading to this case are stated hereunder: THE respondent is a company incorporated under the provisions of the Companies Act, 1956 ('the Act'), having its registered office at No. 139/1, Hosur Main Road, Koramangala, Bangalore-95. THE main object of the company is to manufacture either for its own use or for sale in India or for export outside India computer systems, computer peripherals and accessories, etc. THE authorised share capital of the respondent-company as on 18th August, 2006 is 20 crore equity share of Rs. 10 each amounting to Rs. 200 crore. THE issued, subscribed and paid-up capital is 161,859,420 equity shares of Rs. 10 each totalling to Rs. 1,618,594,200. EDS Electronic Data Systems (India) (P.) Ltd., had also been established with the same object. THE share capital of the said company as on 18th August, 2006, was 4,50,00,000 equity shares of Rs. 10 each amounting to Rs. 45 crore. THE issued, subscribed and paid-up capital of the said company was 3,52,83,252 shares of Rs. 10 each amounting to Rs. 35,28,32,520.

(3.) WE have heard learned counsel for the appellant and Sri Naganand, learned senior counsel appearing for the respondent.