IN RE: CAPSUGEL HEALTHCARE LTD. Vs. STATE

JUDGEMENT

(1.) THIS petition under Sections 100, 101 and 102 of the Companies Act, 1956 read with Rule 9 of the Companies (Court) Rules, 1959 seeks sanction of reduction of the Equity Share Capital of the petitioner Company. The petitioner Company was originally incorporated on 13.12.1982 as United Pharma International Limited under the provisions of the Companies Act, 1956 as a Company limited in the Union Territory of Chandigarh, and thereafter the name of the Company was changed to Bharti Healthcare Limited w.e.f. 07.11.1994 which was further changed to its present name Capsugel Healthcare Limited on 21.07.2006.

(2.) THE Registered office of the company was also shifted from Union Territory, Chandigarh to the State of Haryana w.e.f. 15.12.1985.

(3.) THE present Authorised Share Capital of the Company is Rs. 2,22,00,00,000/ -(Rupees two hundred twenty two Crores only) divided into Rs. 21,20,00,000/ - (Twenty one crores and 20 lacs) equity shares of Rs. 10/ - each and 10,00,000 (Ten lacs) cumulative non -convertible redeemable preference shares of Rs. 100/ - each. The issued, subscribed and paid -up share capital of the company is Rs. 202,70,62,140/ - (Rupees Two Hundred Two Crores Seventy lacs sixty Two Thousand One Hundred and Forty Only) divided into 20,27,06,214 Equity Shares of Rs. 10/ - each. The Capsugel Belgium NV are holding 20,22,12,435 number of shares constituting 99.76% of the paid up equity share capital of the Company and non -promoters (Public) are holding 4,93,779 number of shares constituting the balance 0.24% of paid up equity share capital of the Company.