ESCAPADE REAL ESTATE PRIVATE LIMITED Vs. STATE

JUDGEMENT

(1.) THIS petition is filed for reduction of the petitioner's share capital in terms of the resolutions passed at the Extraordinary General Meetings of each class of Equity Shareholders held on 12th March 2015 and to approve the form of minute to the effect that,

(2.) A copy of the provisional financial statements as on 31.12.2014 is annexed as Annexure 2.

(3.) THE petitioner is engaged in buying, selling, hiring or otherwise dealing in the movable and immovable properties and real estate services thereto. As the petitioner has capital in excess of its needs, the Board of Directors of the petitioner company thought it fit to reduce the Class B equity share capital. The nature of business carrying on is detailed in the memorandum of association, which is annexed as Annexure 1.