- (1.) This Application was filed by the Applicants under Section 441 of the Companies Act, 2013 for the purpose of compounding for violation of provisions of Sections 96 of the Companies Act, 2013 read with section 168 of the Companies Act, 1956.
(2.) The averments made in the Company Application are briefed hereunder:- "The 1st Applicant Company was incorporated under the Companies Act, 1956 on 25th June, 2002 as a Private Limited Company in the name and style of "M/s. Reddy Veeranna Constructions Private Limited" vide Registration No. CIN U74210KA2002PTC030676. The Registered office of the company is situated at Classic Court, 2nd Floor, 9/1, Richmond Road, Bagalore-560025."
(3.) As per the latest Balance Sheet the Authorized share capital of the 1st Applicant Company is Rs. 25,00,00,000/- divided into 15,00,000 Equity Shares of Rs. 100/- each and Preference Shares of Rs. 10,00,000/- of Rs. 100/- each, the issued, subscribed and paid up share capital of the Company is Rs. 25,00,00,000/- divided into 15,00,000 Equity Shares of Rs. 100/- each and Preference Shares of Rs. 10,00,000/- of Rs. 100/- each.;