IN RE Vs. KOLON INVESTMENTS PRIVATE LIMITED

JUDGEMENT

(1.) Heard the Learned Counsel for the Petitioner Company. No objector has come before the Tribunal to oppose the Petition and nor has any party controverted any averments made in the Petition.

(2.) The Counsel for the Petitioner Company submits that no representations have been received from the Central Government through Regional Director or the Registrar of Companies or the Creditors within the said period, it is therefore presumed that they have no objection to the reduction of share capital.

(3.) The Counsel for the Petitioner Company submits that Articles of Association of the Company read along with Clause 46 of Table A in the First Schedule to the Companies Act, 2013 of the Articles of Association of the Company empowers the Petitioner Company to reduce its Share Capital from time to time.