IN RE Vs. ADVENTURES INTERNATIONAL PRIVATE LTD

JUDGEMENT

(1.) The present Company petition bearing C.P. No. 242 of 2016 (CP(TCAA) No. 21/HDB/2017) is filed by Adventures International Private Ltd., before the Hon'ble High court of Judicature at Hyderabad for the state of Telangana & the State of Andhra Pradesh under Sections 391 and 394 of the Companies Act, 1956 read with Rules, 79, 80, 81 and 9 of the Companies (Court) Rules, 1959, by seeking the following reliefs:

(2.) The Company petition is transferred to this Tribunal by the Hon'ble High court, on 27-01-2017 pursuant to the Companies (Transfer of Pending Proceedings) Rules, 2016 issued vide Notification dated 07-12-2016, conferring jurisdiction on this Bench to decide this issue in the present case. Hence, we have taken the case on the records of this Bench and heard it on various dates viz., 31-01-2017, 15-02-2017, 01-03-2017, 15-03-2017, 22-03-2017 and 03-04-2017.

(3.) Brief contentions, which are stated in the Company petition and are relevant to resolve the issue involved in this present case are as under: