Ch Mohd Sharief Tariq, Member - (1.) Under consideration is the Company Petition No. 71/2011 filed under Sections 235, 237, 397, 398, 402, 403 and 405 of the Companies Act, 1956 read with Schedule 11 of the Companies Act, before the then Company Law Board (CLB) , Chennai. After the constitution of NCLT, the same has been transferred to this Bench and renumbered as TCP 77/2016. There is one (1) Petitioner and 9 Respondents in the Petition. The Respondent No.4 was proceeded ex parte by this Bench vide its Order dated 21.11.2016. No reliefs are sought against R2 and R6 by the Petitioner as has been recorded during the hearing on 17.10.2016.
(2.) The 1st Respondent Company was initially incorporated on 10.03.2005 under the name and style of M/s. Waterbase Moana Technologies Private Ltd. Thereafter, on 04.05.2007, the name was changed from M/s. Waterbase Moana Technologies Private Ltd. to M/s. Moana Technologies India Pvt. Ltd having CIN No.U05004TN2005PTC055616. Presently, the Registered Office of the 1st Respondent Company is at No.6/317, Raja Street, L.P. Nagar, Kottivakkam, Chennai- 600 041. The Counsel for the Petitioner submitted that the Registered Office of the 1st Respondent has been shifted from No.22, Sadasivam Street, Gopalapuram, Chennai, 600 086 to No.6/317, Raja Street, L.P. Nagar, Kottivakkam, Chennai- 600 041 at the behest of 5th Respondent, who is the Managing Director of the 1st Respondent Company, by filing Form 18, which is illegal and non-est in the eye of law.
(3.) The Registered Office of M/s. Moana Hongkong Ltd. (Petitioner) is at Unit 3603-06, New Yark Life Tower, Windosor House, 311 Gloucester Road, Causeway Bay, Hongkong. The Petitioner is represented by Nominee Direcotr Mr. Andreas J Agneessens Ronald Everaert. The Petitioner is the majority shareholder of the 1st Respondent Company holding about 75% shares of issued and paid up share capital of the 1st Respondent Company. However, the paid up share capital of the 1st Respondent Company is stated to have been unlawfully raised from of Rs.2,50,00,000/- to Rs.4,25,00,000/- at the behest of 5th Respondent, the Managing Director of the 1st Respondent Company.;