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Aug 26 2008 (TRI)

Zandu Pharmaceutical Works Ltd Vs. Devkumar Vaidya

Court : Company Law Board CLB Mumbai

1. The petitioner the Zandu Pharmaceutical Works Ltd. is a company incorporated on 10-12-1919 under Indian Companies Act, 1913 having its registered office at 70, Gokhale South, Dadar, Mumbai-400 025. The company is doing the business of producing, manufacturing and selling pharmaceutical products. 1.1 Respondent Nos. 1 to 4 are members of the Vaidya family and together with respondent Nos. 5 to 8 which are companies controlled by respondent Nos. 1 to 4 hold 23.33 per cent shares of petitioner-company as on 31-3-2008. The petitioner alleges that respondent No. 9 has illegally acquired 1,90,441 shares of the petitioner-company from respondent Nos. 1 to 8 in violation of the provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (‘Takeover Regulations’/‘Takeover Code’) as also the provisions of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations 1992 (‘I...

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Jun 09 2008 (TRI)

Amadhi Investments Ltd., in Re

Court : Company Law Board CLB Mumbai

1. V.S. Rao Member. - The petitioner-company is a company registered with the Registrar of Companies, Maharashtra, having its registered office at Room No. 4, Thambai Co-operative Society, Sewri-Koliwada, Sewri(E), Mumbai. The company’s books of account and other records were inspected by the officers of Ministry of Corporate Affairs under section 209A. During the inspection some contraventions of the Companies Act have been identified by the inspecting officers. The company as per its statement has preferred suo motu application for compounding of its offences. Accordingly, the company submitted three applications along with its officers in default to the Registrar of Companies, Mumbai, for compounding of offences of violation of the Companies Act. 2. The Registrar of Companies, Maharashtra after examining the compounding application received under section 621A of the Companies Act, 1956, for contravention of the Companies Act, has forwarded the same to this Bench with his repo...

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