The case involves a batch of 14 appeals filed by 35 Appellants under Section 421 of the Companies Act, 2013, against the Impugned Order dated 27.09.2019 passed by the National Company Law Tribunal, Chandigarh Bench, Chandigarh in CA Nos. 226, 227, 58, 59, 60, 61, 62, 63, 66, 499 & 746/2019 & 553/2018 in C.P (IB) No. 167/Chd/Hry/2018. The appeals challenge a capital reduction scheme proposed by Bharti Telecom Limited (BTL).
Bharti Telecom Limited (BTL) was incorporated on 29th July, 1985, under the Companies Act, 1956.
BTL was initially listed on the stock exchanges of Delhi, Ludhiana, Kolkata, and Bombay but was delisted between 1999 and 2000.
In 1986, BTL issued 16.5 lakh shares to various stakeholders, and in 1991, shareholders subscribed to 1.525 crore shares.
In October 1999, BTL was delisted from the Bombay Stock Exchange due to the Promoter Group (Bharti) acquiring more than 90% of BTL's shares.
Bharti Airtel Limited (BAL) launched its IPO in January 2002, and BTL's shareholding in BAL got reduced to 46.4%.
BTL transformed into an investment company, with over 90% of its total assets invested in its subsidiary, BAL, and holds 50.10% of the paid-up share capital of BAL as of 31.03.2019.
…Sign in to view the parties.
Bharti Telecom Limited…
BTL was delisted from the Bombay Stock…
Sign in to view related legal provisions.
The case involves a batch of 14 appeals filed by 35 Appellants under Section 421 of the Companies Act, 2013, against the Impugned Order dated 27.09.2019 passed by the National Company Law Tribunal, Chandigarh Bench, Chandigarh in CA Nos. 226, 227, 58, 59, 60, 61, 62, 63, 66, 499 & 746/2019 & 553/2018 in C.P (IB) No. 167/Chd/Hry/2018. The appeals challenge a capital reduction scheme proposed by Bharti Telecom Limited (BTL).
Bharti Telecom Limited (BTL) was incorporated on 29th July, 1985, under the Companies Act, 1956.
BTL was initially listed on the stock exchanges of Delhi, Ludhiana, Kolkata, and Bombay but was delisted between 1999 and 2000.
In 1986, BTL issued 16.5 lakh shares to various stakeholders, and in 1991, shareholders subscribed to 1.525 crore shares.
In October 1999, BTL was delisted from the Bombay Stock Exchange due to the Promoter Group (Bharti) acquiring more than 90% of BTL's shares.
Bharti Airtel Limited (BAL) launched its IPO in January 2002, and BTL's shareholding in BAL got reduced to 46.4%.
BTL transformed into an investment company, with over 90% of its total assets invested in its subsidiary, BAL, and holds 50.10% of the paid-up share capital of BAL as of 31.03.2019.
…Bharti Telecom Limited…
BTL was delisted from the Bombay Stock…
Sign in to view related legal provisions.