Supreme Court of India
Hasmukhlal Madhavlal Patel and Anr. v. Ambika Food Products Pvt. Ltd. and Ors.
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From the headnote
Companies Act, 1956 – s. 2(32), 81, 81(1A), 81(3), 397, 398 – Companies Act, 1913 – s. 105- – First respondent is a private limited company having authorised capital of Rs.1 cr ore – There are three groups i.e. HMP, S and VPP – Appellant no s. 1 and 2 described as the ‘HMP’ Group had 30.80% of the paid up share capital – ‘S’ Group represented by respondent nos. 4 & 5 had 45 per cent share and ‘VPP’ Group represented by responde nt nos. 2 & 3 had 24.20 percentage in the paid-up capital – In r esponse to the proposal for a term-loan made by the appellants, Bank a dvised them to increase Share
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