IN RE Vs. KIRAN MAZUMDAR SHAW

JUDGEMENT

(1.) The Petition was originally Filed before the Company Law Board, Southern Region, Chennai under Section 621A of the Companies Act, 1956 by the Managing Director for the purpose of compounding for violation of provisions of section 75 of the Companies Act, 1956. Consequent upon the establishment of National Company Law Tribunal Bench at Bengaluru, the said case was transferred to this Tribunal on abolition of Company Law Board. Southern Region, Chennai Bench and numbered as T.P. No. 149/2016. The averments made in the company application are briefed hereunder:--

(2.) The Authorized share capital of the Company is Rs. 250,00,00,000/- (Rs. Two hundred and Fifty Crores) consisting of 25,00,00,000 (Twenty Five Crore) Equity Shares of Rs. 10/- each. The Issued, Subscribed and Paid-up capital of the Company as on 31/03/2015 was Rs. 200,00,00,000/- (Rupees Two Hundred Crores) divided into 20,00,00,000 (Twenty Crores) Equity Shares of Rs. 10/- each fully paid up.

(3.) The Main objects of the Company is to carry on, undertake, set up, establish, pursue, develop, deal, trade, use, assist, advice, consult, facilitate. Contract Research and Manufacturing Services (CRAMS) and Clinical research services in the field of drug discovery, biotechnology, pharmaceuticals, nutritional products, bio-pharmaceutical, bio-informatics, medicinal sciences, life sciences and clinical data management; to carry on research and development of new products, new delivery systems, new routes of administrations; to engage in the business of design and development of software and related products for special applications in the field of Biotechnology etc., Details of the objects of the company are mentioned in the Memorandum of Association of the Petitioner Company.