INDECO VENTURES LIMITED Vs. STATE

JUDGEMENT

(1.) This Company Petition is filed under Sections 100 to 105 of the Companies Act, 1956 seeking an approval of the reduction of paid-up equity share capital of the petitioner company duly approved by the equity shareholders of the petitioner at the Extra-ordinary General Meeting thereof held on 28.08.2015 at Chennai; to this end all inquiries and directions necessary and proper be made and given; to approve the form of minute and to dispense with the words "And Reduced" pursuant to the reduction.

(2.) It is seen that the petitioner company is carrying on business of generation of energy from wind using Wind Mills, Wind Turbines, Biomass Solar, Municipal Waste, Bio-diesel and other equipments to sell, distribute, supply and share the energy to Governments, Companies, Industries, Electricity Boards and individuals according to law for the time being in force and also for self-consumption. It is further stated that the petitioner company provides for all kinds of services in connection with the power generation and they are doing import and export also. Further the petitioner company provides for consultancy and technical know how related to projects in the fields of power generation. A copy of the latest audited balance sheet 2014-2015 is marked as Annexure B. The nature of business carried on is detailed in the Memorandum and Articles of association, which is marked as Annexure-A.

(3.) The share capital of the petitioner company as on 31.3.2015 are as follows: <FRM>JUDGEMENT_330_LAWS(MAD)6_2016.html</FRM>