IN RE Vs. PRACTO TECHNOLOGIES PRIVATE LIMITED

JUDGEMENT

(1.) Originally this Petition was filed before the Hon'ble High Court of Karnataka and it was numbered as Co. P. No. 297/2016. Subsequently as per Notification No. 1119(E) dated 7th December 2016 issued by the Ministry of Corporate Affairs, New Delhi, the said case was transferred to this Tribunal and renumbered as T.P. No. 240/2017.

(2.) This Company Petition was filed on behalf of the Petitioner Company under Section 100-104 of the Companies Act, 1956, praying to confirm the Reduction of Equity Share Capital in pursuance of the Special Resolution dated 1st December 2016 passed by the Petitioner Company.

(3.) The averments made in the Company Petition are briefly described hereunder:-