IN RE Vs. CLOUDCHERRY ANALYTICS PRIVATE LIMITED

JUDGEMENT

(1.) Heard the Counsels appearing for the Petitioner and Respondent and perused the record placed on the case file.

(2.) Under consideration is an Application filed under Section 66 of the Companies Act, 2013 for reduction of Compulsorily Convertible Preference Share Capital and out of the preference share capital and from the share premium amount which was filed before this Bench on 25.01.2017.

(3.) The Applicant Company has made prayers for the reduction of 4187 compulsorily convertible preference shares to be refunded to such preference shareholders at a premium of Rs. 10,539.77 per share. The face value of the CCPS is Rs.100/-. The amount is proposed to be reduced from the preference share capital account and the balance amount from the share premium account.