IN RE Vs. STANLEY LIFESTYLES LIMITED AND ORS

JUDGEMENT

(1.) The Application was originally filed before the Company Law Board, Southern Region, Chennai under Section 621A of the Companies Act, 1956 for the purpose of compounding for violation of provisions of section 297 of the Companies Act, 1956 and it was numbered as C.A. 223/2015. Consequent upon the establishment of National Company Law Tribunal Bench at Bengaluru, the said case was transferred to this Tribunal on abolition of Company Law Board, Southern Region, Chennai Bench and re-numbered as T.P. No. 174/2016.

(2.) The averments made in the Company Application are briefly described hereunder:-

(3.) The Authorized share capital of the Applicant Company is Rs. 6,00,00,000/- (Rupees Six Crores only) consisting of 60,00,000 Equity Shares of Rs. 10/- each. The paid up share capital of the Company is Rs. 5,75,82,490/- (Rupees Five Crores Seventy five lakhs eighty two thousand four hundred and ninety only) made up of 57,58,249 Equity Shares of Rs. 10/- each.