IN RE Vs. AOL ONLINE INDIA PRIVATE LIMITED

JUDGEMENT

(1.) The Petition was originally filed before the Company Law Board, Southern Region, Chennai under Section 621A of the Companies Act, 1956 for the purpose of compounding for violation of provisions of section 77(A)(10) 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. 243/2016.

(2.) The averments made in the company application are briefly hereunder:-

(3.) The Authorized share capital of the Applicant company is Rs. 50,00,000/- (Rupees Fifty Lakhs only) consisting of 5,00,000 Equity Shares of Rs. 10/- (Rupees Ten only) each, while paid up share capital of the Company is Rs. 23,33,740/- (Rupees Twenty Three Lakhs Thirty Three Thousand Seven Hundred and Forty only) consisting of 2,33,374 equity shares of Rs. 10/- each.