ORGANON INDIA LIMITED Vs. STATE

JUDGEMENT

(1.) By this Company Scheme Petition, Organon (India) Limited (the Petitioner Company) seeks sanction and confirmation by this Court with regard to the special resolution passed by the Petitioner's shareholders in its Extraordinary General Meeting ("EGM") held on 15th October, 2009, for the reduction of its equity share capital.

(2.) The Authorized, issued, subscribed and paid up share capital of the Petitioner Company, as on 31st December, 2008 is as under: <FRM>JUDGEMENT_604_TLMHH0_2010Html1.htm</FRM>

(3.) Of the above, 98.43% of the paid up equity share capital of the Petitioner Company is held by the promoter shareholder, namely Organon Participations B. V. ("promoter shareholders"). The balance of the paid up equity share capital of the Petitioner Company is held by 1490 members having shares of the Petitioner Company. There has been no change in the share capital of the Petitioner Company from 31st December, 2008 till the date of filing the present petition.