M.K. Shrawat, Member - (1.) This is a Company Petition filed on 12 July, 2017 by M/s. Elringklinger Automotive Components (India) Pvt. Ltd. under section 66 of the Companies Act, 2013 for reduction of subscribed share capital of the Petitioner.
(2.) The Petitioner Company was incorporated on 26th February, 2007, copy of Certificate of Incorporation is in the compilation. The Company has main object of designing, assembling, manufacturing, selling of cylinder head gasket. The authorized, issued, subscribed and paid-up share capital as on 31 March, 2017 as per the Petitioner is as under:- Name of Shareholder No. of Equity Shares Face Value Per Share Equity Share Capital (Rs.) Elringklinger AG, Germany 19,99,99,999 10 199,99,99,990 Theo Becker, Nominee for Elringklinger AG, Germany 01 i 10 10 Total 20,00,00, OOO 200,00,00,000
(3.) This Petition is moved to grant permission to reduce the paid-up share capital ofRs. 2,00,00,00,000/- to Rs. 198,04,94,950/-. To reduce the share capital, the Company is required to pay an amount of Rs. 1 95 05 050/- to Elringklinger A.G. After reduction the paid-up share capital of the Company shall comprise 19,80,49,495 equity shares of Rs. 10/- each. For this purpose, EGM was held on 27 June, 2017 approving the said reduction in share capital.;