Petition Under Section 101 For Confirming The Reduction Ofshare Capital 340 Legal Draft Template
| Category | Petitions |
| Format | Rich Text |
| File name | Petition under Section 101 for confirming the reduction ofshare Capital-340.rtf |
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[See Rule 46]
IN THE HIGH COURT AT........
Company Petition No. …….. of 20……
…………… Co. Ltd. - Petitioner
Petition under Section 101 for confirming the reduction of
share Capital
IN THE HIGH COURT AT........
Company Petition No. …….. of 20……
…………… Co. Ltd. - Petitioner
Petition under Section 101 for confirming the reduction of
share Capital
The petition of …………. Co., Ltd. the petitioner herein showeth
1. The abovenamed company, the petitioner herein (hereinafter 'called the company') was registered on the ………..........… day of ........... 20....., under the provisions of the [Companies Act, 1956] as a company limited by shares/limited by guarantee with a share capital.
2. The Registered Office of the company is situated at ………………
3. The objects of the company are [manufacture of bicycles, etc.] and other objects set forth in the memorandum of association thereof.
4. The capital of the company is Rs. ………… divided into ……….. shares of Rs. .......... each, of which …………. shares have been issued and have been fully paid-up or credited as fully paid-up (or have been paid-up to the extent of Rs. …………. per share).
5. Shortly after its incorporation, the company commenced business, and it has since been and is still carrying on business.
6. By article(s) …………. of the articles of association of the company, it is provided that the company may, from time to time, by special resolution reduce its capital in any manner permitted by law.
7. [Set out reasons for reduction.]
8. By a special resolution of the company, duly passed in accordance with Section 189 of the Companies Act, 1956, at a general meeting thereof, held after due notice as provided in the Act on the ………….. day of ………….. 20……, it was resolved:-
9. [Here set out whether the reduction of capital does or does not involve either the diminution of any liability in respect of unpaid capital or the payment to any shareholder of any paid-up capital, and whether the company has creditors or any class of them entitled to object.]
10. The form of the minute proposed to be registered under Section 103(1)(b) is as follows:-
11. The petitioner therefore prays:-
(1) That the reduction of capital resolved on by the special resolution set out in paragraph 8 above be confirmed ;
(2) That to this end all inquiries and directions necessary and proper be, made and given;
(3) That the proposed minute be approved ; and
(4) That such further or other orders be made in the premises as to the Court shall seem fit.
Dated ………………
1. The abovenamed company, the petitioner herein (hereinafter 'called the company') was registered on the ………..........… day of ........... 20....., under the provisions of the [Companies Act, 1956] as a company limited by shares/limited by guarantee with a share capital.
2. The Registered Office of the company is situated at ………………
3. The objects of the company are [manufacture of bicycles, etc.] and other objects set forth in the memorandum of association thereof.
4. The capital of the company is Rs. ………… divided into ……….. shares of Rs. .......... each, of which …………. shares have been issued and have been fully paid-up or credited as fully paid-up (or have been paid-up to the extent of Rs. …………. per share).
5. Shortly after its incorporation, the company commenced business, and it has since been and is still carrying on business.
6. By article(s) …………. of the articles of association of the company, it is provided that the company may, from time to time, by special resolution reduce its capital in any manner permitted by law.
7. [Set out reasons for reduction.]
8. By a special resolution of the company, duly passed in accordance with Section 189 of the Companies Act, 1956, at a general meeting thereof, held after due notice as provided in the Act on the ………….. day of ………….. 20……, it was resolved:-
9. [Here set out whether the reduction of capital does or does not involve either the diminution of any liability in respect of unpaid capital or the payment to any shareholder of any paid-up capital, and whether the company has creditors or any class of them entitled to object.]
10. The form of the minute proposed to be registered under Section 103(1)(b) is as follows:-
11. The petitioner therefore prays:-
(1) That the reduction of capital resolved on by the special resolution set out in paragraph 8 above be confirmed ;
(2) That to this end all inquiries and directions necessary and proper be, made and given;
(3) That the proposed minute be approved ; and
(4) That such further or other orders be made in the premises as to the Court shall seem fit.
Dated ………………
Advocate for petitioner
Petitioner
*