IN RE Vs. KATWA CONSTRUCTION COMPANY LIMITED

JUDGEMENT

(1.) The Petitioner Company has sought the approval of conversion of the Petitioner Company from Public Limited Company to a Private Limited Company in accordance with Section 14 of the Companies Act, 2013.

(2.) The averments made in the petition are as follows:

(3.) The object of the Petitioner Company is to carry on the business of builders and contractors for construction of residential, commercial and industrial buildings, complexes, flats, apartments, banglows, educational campus including hostels and other dwelling units, shops, clubs, offices or otherwise acquire, hold such properties, wherever situated in India, or Rights therein and to act as Civil Engineers and Contractors, real estate agents and housing developers and to erect and construct houses, buildings, or work of every description on any land or upon any other property and to pull down, re-build, enlarge and improve existing houses, buildings, or works thereon to convert and appropriate any such land into and for roads, streets, squares, gardens, and other conveniences as stated in the main objects in the Memorandum of Association of the Company as per Annexure 'A' of the petition. It is averred in the Company Petition that the Board of Directors of the Petitioner Company has approved the proposal for conversion of the Company from Public Company to Private Limited Company and for alteration of Memorandum and Articles of Association at its meeting held on 1st March, 2017. The Copy of said Board Resolution passed by the Directors of the Petitioner Company is shown as Annexure-C.