KAMAL BABBAR Vs. M/S.ARUNA HOTELS LTD

JUDGEMENT

(1.) This appeal is directed against the order dated 24.12.2012 passed by the learned Company Law Board, Chennai Branch in C.A. No. 194 of 2012 in C.P. No. 86 of 2012. Mr. Kamal Babbar, S/o. Late Mr. Ram Prakash Babbar filed Company Petition under Section 111A, 235, 237, 397, 398, 402 and 403 of the Companies Act, 1956, praying therein as under:

(2.) On notice, respondents/applicants filed C.A. No. 194 of 2012 in C.P. No. 86 of 2012 under Regulation 44 of the Company Law Board Regulations, 1991 to dismiss the company petition as not maintainable. It was the submission of the respondents/applicants, that the company petition filed by Mr. Kamal Babbar, was not maintainable, as the 1st respondent/1st applicant did not fulfill the criteria for eligibility to file or maintain the petition.

(3.) That the authorized share capital of the 1st applicant company M/s. Aruna Hotels Limited, is Rs. 32,00,00,000/- (Rupees Thirty Two Crores only) divided into 2,40,00,000 equity shares of Rs. 10/- each and 8,00,000 redeemable cumulative preference shares of Rs. 100/- each. The total paid up share capital of the 1st applicant company is as under: <FRM>JUDGEMENT_833_TLMAD0_2013_1.html</FRM>