IN RE Vs. AMRIT BANASPATI COMPANY LIMITED

JUDGEMENT

(1.) The Present Company Petition CP No. 80/ALD/2017 (M/s Amrit Banaspati Company Limited bearing CIN NO-U51909UP1985PLC056366) is filed under section 14(1) of Companies Act, 2013 seeking approval from this Tribunal for conversion of the Petitioner Company from Public Limited to Private Limited pursuant to a Board Resolution Dated, 3rd February, 2017 further duly ratified by the Extra-Ordinary General Meeting(EOGM) of the company held on 14th March, 2017.

(2.) The brief fact raising to, and as per averment made in the present petition are stated as under.

(3.) In addition to the above. The Petitioner Company has given reason for Proposed Conversion of the Company which is described in its explanatory statement of the EOGM of the Company which for the sake of convenience may be reproduced here under: