COMBUST TECHNIC P LTD Vs. STATE

JUDGEMENT

(1.) The material facts on record leading up to this application under Sections 397 and 398 of the Companies Act, 1956, are as follows: Combust Technic P. Ltd. (hereafter referred to as"the company") was incorporated on or about November 30, 1977, with the object, inter alia, to acquire the existing business of"Combust Technic", a partnership firm of Sukhendu Blkash Sarkar and Sourendra Nath Pal, as a going concern and to take over its assets and liabilities.

(2.) After its incorporation, the company has been carrying on the business of the said partnership, being designing and manufacturing for fabrication and repair of engineering equipments. The company owns and runs a factory at the Kidderpbre Industrial Estate, Hide Road Extension, Calcutta,

(3.) The authorised capital of the company is Rs. 1,00,000 divided into 100 equity shares of the face value of Rs. 1,000 each. The amount of share capital paid up or credited as paid up is Rs. 30,000.