IN RE Vs. SARU AIKOH CHEMICALS LIMITED

JUDGEMENT

(1.) The Present Company Petition CP No. 84/14(1)/ALD/2016 (M/s. Saru Aikoh Chemicals Limited bearing CIN No. - U24119UP1937PLC00369) is filed under section 14(1) of Companies Act, 2013 seeking approval of this Tribunal for conversion of the Company from Public Limited to Private Limited pursuant to a Board Resolution Dated, 1st August, 2016 which has been further ratified by the Annual General Meeting (AGM) of the petitioner company held on 26th August, 2016.

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

(3.) A perusal of the previous proceeding goes to show that the division bench of this tribunal on a previous occasion observed that the present petition was filed in this tribunal before completing the minimum waiting period from date of its resolution and the same was not in conformity with Rule 68 of NCLT, Rule 2016. Pursuant there to the petitioner company moved a memo before this tribunal seeking prayer for condonation/regularisation of its premature filing and requested such the date of hearing of present company petition be fixed after statuary period is over from the date of resolution.