Rajeswara Rao Vittanala, Member - (1.)The application was initially filed before Company Law Board ('CLB'), Chennai Bench, Chennai. Since, National Company Law Tribunal ('NCLT'), Hyderabad Bench has been constituted for the cases relating to the States of Andhra Pradesh and Telangana, the case is transferred to Hyderabad Bench. Hence, we have taken the case on records of NCLT, Hyderabad Bench and deciding the case. This application has been filed under section 149 of the Companies Act, 2013 read with rule 3 of the Companies (Appointment and Qualification of Directors) Rules, 2014 and section 621A of the Companies Act 1956, by praying the Tribunal to consider and, to pass suitable orders for compounding the offence committed under the said provision.
(2.)We have heard Sri G. Bhupesh for Sri S. Nageswara Reddy, the learned counsel for the applicant, perused the application, and also the report of the Registrar of Companies ('RoC'), Hyderabad for States of Telangana and Andhra Pradesh, forwarded vide letter No. ROCH/Legal/Sec.149A/JPCL/S "I' ACK/2016/650 dated 6th May, 2016.
(3.)It was submitted that the company, Jalpower Corporation Ltd. was incorporated as a limited company on 25th August, 2004 under the Companies Act, 1956 with Registration No. U40109TG2004PLC043985 at Hyderabad. The authorised capital of the company as on 31st March, 2015 is Rs. 200,00,00,000 divided into 20,00,00,000 equity shares of Rs. 10 each, and the paid-up capital of the company as on the said date is 18,88,88,000 equity shares of Rs. 10 each amounting to a total issued capital of Rs. 188,88,80,000.
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