Mohd. Sharief Tariq, Member - (1.) Under consideration is Company Petition in relation to which an Application was filed before Hon^ble High Court of Madras under Sections 391 to 394 read with Sections 100 to 104 of the Companies Act, 1956 and it stood transferred to this Bench and renumbered as TCA (HC)/73/CAA/2017. Now, CP/181/CAA/2017 has been filed with the prayer to grant sanction to the Scheme of Arrangement (hereinafter referred to as "Scheme") enclosed as annexure A4 with effect from 01.04.2016 being binding on all the shareholders and creditors of the Petitioner Company viz. M/s. Kothari Safe Deposits Limited.
(2.) The Applicant Company M/s. Kothari Safe Deposits Limited was got incorporated on 10.01.1936 under the Companies Act 1913, having name and style as 'Madras Safe Deposit Company Limited'. The name of the Company was changed to M/s. Kothari Safe Deposits Limited on 09.07.1996. The registered office of the company is situated at Kothari Building, 116, Nungambakkam High Road, Chennai - 600 034. The Company is engaged in business of renting of safe deposit lockers. The equity shares of the company were listed with the Madras Stock Exchange. The madras Stock Exchange has exited from the Securities and Exchange Board of India and no longer provides any trading facilities. The Applicant Company submits that the equity share of the company remained unlisted and the company does not require to comply with requirements of the Listing Agreement or any SEBI Rules/Regulations.
(3.) The Capital Structure of the Company as on 31.03.2016 is as follows:- ;