Bikki Raveendra Babu, Member - (1.) Hotel Satyaketu Pvt. Ltd., originally a partnership Firm, has been converted into a Company, under the provisions of the Companies Act, 1956 on 16th September, 2002 having its Registered Office at Baroda. The Authorised Share Capital of the 1st Respondent Company is Rs. 4,00,00,000 divided into 40,00,000 equity shares of Rs. 10 each. The Paid-up Share Capital of the 1st Respondent Company is Rs. 10,00,000 divided into 1,00,000 equity shares of Rs. 10 each. The Main Object of the 1st Respondent Company is to run hotel and restaurants.
(2.) Petitioners are partners in the original partnership firm as narrated in the Memorandum of Association and Articles of Association of the 1st Respondent Company. Petitioners are shareholders of the 1st Respondent Company since its incorporation. Petitioners No. 1 to 4 are holding 2000 equity shares each in their names. Husband of Petitioner No. 4 Late Shri Mahendrabhai Patel was also holding 2000 equity shares. According to the Petitioners, Petitioner No. 4 as legal heir of her husband is entitled to 2000 equity shares of her late husband under a Pedhinama of late Shri Mahendrabhai Patel.
(3.) Respondent No. 2 is the Director of the 1st Respondent Company and holding 40000 equity shares. Respondents No. 3 and 4 are also Directors of the Company, but are not holding any shares. Respondent No. 5 is a Company Secretary who filed Annual Return dated 29.9.2012 showing particulars of transfer of shares challenged in this Petition. Respondent No. 6 is the Company Secretary who filed Compliance Certificate for the year 2012.;