KANCHENJUNGA ADVERTISING PRIVATE LIMITED Vs. STATE

JUDGEMENT

(1.) THIS joint petition has been filed under Sections 391 and 394 of the Companies Act,1956 by the petitioner companies seeking sanction of the Scheme of arrangement (Demerger) of M/s Kanchenjunga Advertising Private Limited (hereinafter referred to as Demerged Company) and M/s Karma Lakelands Private limited (hereinafter referred to as Resulting Company).

(2.) THE registered offices of the Demerged Company and the Resulting Company are situated at New Delhi, within the jurisdiction of this Court.

(3.) THE present Authorized Share Capital of the Demerged Company is Rs.1,00,00,000/- (Rupees One Crore only) divided into 1,00,000 (one lac) Nos. of Equity Shares of Rs.100/- (Rupees One Hundred only) each and the issued, subscribed and paid-up share capital of the Company is Rs.42,76,300/- (Rupees Forty Two Lacs and Seventy Six Thousand and Three Hundred Only) divided into 42,763 (Forty Two Thousand Seven Hundred and Sixty Three) Nos. of Equity Shares of Rs.100/- (Rupees One Hundred only) each fully paid up.