- (1.) The Petition was originally filed before the Company Law Board, Southern Region, Chennai under Section 621A of the Companies Act, 1956 for purpose of compounding for violation of provisions of section 211 of the Companies Act, 1956. Consequent upon the establishment of National Company Law Tribunal Bench at Bengaluru, the said case was transferred to this Tribunal on abolition of Company Law Board, Southern Region, Chennai Bench and numbered as T.P No. 269/16/621 A/2016.
(2.) The averments in the petition are briefed hereunder:- "The Company was originally incorporated on 08th September 1995 in the name and style of M/s. LOGIX MICROSYSTEMS LIMITED and subsequently changed to M/s. IZMO LIMITED with effect from 06th August 2014 vide Registration No. L72200KA1995PLC018734. The Registered office of the company is situated at # 177/2C, Billekahalli Industrial Area, Bannerghatta Road. Bangalore-560076."
(3.) The Applicant Nos. 1 and 2 are the Directors of the Company. The Authorized share capital of the company as per the latest Audited Balance sheet on 31/03/2015 is Rs. 13,20,00,000/- (Rupees Thirteen Crores twenty lakhs only) consisting of 1,32,00,000 (One crore thirty two lakhs) Equity Shares of Rs. 10/- each. The Company is a listed company on Bombay Stock Exchange and National Stock Exchange.;