Bikki Raveendra Babu, Member - (1.) Aquagel Chemicals (Bhavnagar) Private Limited, a company incorporated under the Companies Act, 1956 and having its registered office at Village Vartej, Bhavnagar, Gujarat, has filed this petition under Section 66 of the Companies Act, 2013 for confirming the reduction of share capital.
(2.) The facts, in brief, that are necessary for the disposal of this petition are as follows:-
(3.) The main object of the petitioner, as set out in clause III of the Memorandum of Association of the company, is as follows:- "To manufacture, buy, sell, refine, formulate, process, manipulate, import, export, distribute, act as agent or otherwise deal in chemicals, whether basic, heavy, fine or derived acquagel, catalysts, methocarbamol, metoprolol, tartrate, atenaiol, propranolol hydrochloride, wetsilica, precipitated silica, reinforcing, silica, micronized silica and its various grades, forms used in chemical and allied industries, organic and inorganic compounds, solvents, used in rubber, pesticides, cosmetics, paper, dyes, paints, plastic and other allied industries.";