IN RE Vs. SRS LIMITED

JUDGEMENT

(1.) The petitioner is a listed company having its registered office at Faridabad in the State of Haryana and, therefore, the matter falls within the territorial jurisdiction of this Tribunal. The authorised share capital of the company is Rs. 280,00,00,000/- divided into 28,00,00,000 equity shares of Rs. 10/- each. The paid up share capital is Rs. 278,58,20,260/- divided into 27,85,82,026 equity shares of Rs. 10/- each fully paid.

(2.) The jewellery segment of the petitioner company contributes to around 90% of the company revenue. The consolidated revenue of the petitioner company for the year ending 31.03.2016 was Rs. 412,042.48 lacs. The audited accounts of the petitioner company for the financial years 2013-14, 2014-15 and the audited results for the financial year 2015-16 are at Annexure-II (Colly) .

(3.) It was stated that the company started accepting the deposits from the public since April, 2013 under the Companies Act, 1956 and Companies Act, 2013 and had been repaying the principal amount as well as the agreed rate of interest regularly without any delay.