Rajasthan Jaipur Court December 2010 Judgments
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Suresh Kr Agarawal. Vs.
Court: Rajasthan Jaipur
Decided on: Dec-13-2010
1. Company appeal U/s 10-F of Indian Companies Act, 1956 ("Co. Act") is directed against order dt.27/10/2008 passed by the Company Law Board New Delhi rejecting Company Petition-36/2006 filed by appellant making allegations of certain oppression and mismanagement on the part of respondent-1 (M/s RR Consortium (P) Ltd) being covered U/s 397 & 398 of Co. Act. Appellant filed petition U/Ss 397, 398, 402 & 403 of Co. Act against respondent-1 Company & its Directors making allegations of certain oppressions & mismanagement on their part. 2. As per material on record, respondent-1 (Company) was incorporated in the year 1996 with authorized share capital of Rs.Five lacs divided into 50,000 equity shares of Rs.10/- each, which was increased to Rs.25 lacs in June, 1996 and further increased to Rs.50 lacs in March, 1997. Respondent-1 Company was established with the objects to purchase, acquire, convert, develop, improve, hold with absolute or limited rights or on lease, sub-lease or otherwise a...
M/S Genus Power Infr. Ltd and anr. Vs. ----------------.
Court: Rajasthan Jaipur
Decided on: Dec-13-2010
1. Board for Industrial & Financial Reconstruction ("BIFR") in exercise of its powers U/s 20(1) of Sick Industrial Companies (Special Provisions) Act, 1985 ("Act, 1985") after holding inquiry U/s 16, and taking note of all relevant facts & circumstances on record, and after opportunity of hearing being afforded to all the concerned parties, on having come to its conclusion vide order dt. 26/09/2002 in Case No.3/1999 that M/s Jaipur Metal & Electrical Ltd ("JMEL") is not likely to make its net worth exceed the accumulated losses within a reasonable time while meeting all its financial obligations - as a result therefore, is not likely to become viable in future, has forwarded its opinion to the Company Court vide its letter dt.03/10/2002 and recommended that Company-JMEL be wound up.2. At the stage of admission where recommendations made by BIFR are to be examined for winding up of company-JMEL, two applications (No.6780/dt.15/03/2010) by M/s Genus Power Infrastructure Ltd & (No. 17945/...
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