Case Law Details
This Petition is filed under Section 203 of the Companies Act, 2013 read with Rule 8A of the companies (Appointment and Remuneration of Managerial Personals) Rules, 2014 with a prayer for compounding of the violation committed under provisions of 441 of the Companies Act, 2013.
The averments made in the Company Application are briefed here under:-
The 1st Applicant i.e., Atyati Technologies Private Limited, is the Company; Mr. Prakash Ramachandra Prabhu– is the 2nd Applicant / Chief Executive Officer & Director. This suo- moto Application is filed by the Applicants for compounding for violation of provisions of Section 203 of the Companies Act, 2013 read with Rule 8A of the companies (Appointment and Remuneration of Managerial Personals) Rules, 2014.
The 1st Applicant Company was incorporated under the Companies Act, 1956 on 29th March 2006 as a Private Limited Company under the name and style of “Atyati Technologies Private Limited” vide Registration No. CIN U72200KA2006PTCO38859. The Registered office of the company is situated at 301-323, 3rd Floor, Tower C, Diamond District PID No. 73-1-15-0/C-C-2, Airport Road, Kodihalli, Bangalore-560008.
The Authorized share capital of the 1St Applicant Company is Rs. 19,91,00,000/- divided into 1,99,10,000 of Equity Shares of Rs 10/ each. The Issued, Subscribed and paid up share capital of the Company is Rs. 8,81,06,590/- divided into 88,10,659 of Equity Shares of Rs 10/ each.
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