Vijai Pratap Singh, Member - (1.) This Company Petition No. 163/2015 has been filed by Khosla Steel Industries Pvt. Ltd. under section 397 and 398 of the Companies Act, 1956 (hereinafter will be referred to as the Act).
(2.) Brief facts of the case are that the registered office of the Respondent No. 1 company is at Jamshedpur, Jharkhand and the authorised share capital of the company is Rs. 2,50,00,000/- divided into 2,50,000 equity shares of Rs. 100/- each and the issued, subscribed and paid up share capital of the company is Rs. 1,74,19,000/- divided into 1,74,190 equity shares of Rs. 100/- each. The R-1 company is operating as a subsidiary of Khosla Steel Industries Pvt. Ltd., the holding company, which is carrying on the business of induction furnace at its factory situated at Adityapur Industrial Area, Jamshedpur. The petitioner No. 1, Khosla Steel Industries Pvt. Ltd. is the holding company of the respondent No. 1 company, i.e. K. Steel Private Ltd. The petitioner (holding company) is holding 1,54,420 equity shares out of 1,74,190 validly issued, subscribed and paid up capital of the subsidiary company, which is equal to 88.65% of the validly issued, subscribed and paid up capital of the company.
(3.) The petitioner No. 2, Mrs. Neelam Khosla wife of Late Ashok Kumar Khosla, residing at New Delhi is holding 3,570 equity shares out of 1,74,190 validly issued, subscribed and paid up capital of the subsidiary company, which is equal to 2.05% of the validly issued, subscribed and paid up capital of the company.;