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Amalgamated Electricity Company Ltd.

BSE: 501622 Sector: Others
NSE: N.A. ISIN Code: INE492N01022
BSE 00:00 | 05 Aug 21.60 0
(0.00%)
OPEN

21.60

HIGH

21.60

LOW

21.60

NSE 05:30 | 01 Jan Amalgamated Electricity Company Ltd
OPEN 21.60
PREVIOUS CLOSE 21.60
VOLUME 28
52-Week high 33.00
52-Week low 12.26
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 21.60
CLOSE 21.60
VOLUME 28
52-Week high 33.00
52-Week low 12.26
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Amalgamated Electricity Company Ltd. (AMALGAMATEDELEC) - Company History

The Amalgamated Electricity Company Limited was incorporated in the year June 17th 1936. The Company provides a wide range of consultancy and management services.The Hon'ble High Court at Mumbai while reviewing the LPA of Company challenging the judgement dated 24th September 2011 of the Estate Officer as well as the order dated 2nd April had ruled that the Company is liable to pay reduced rent/ compensation @ Rs 125/- per sq.ft and interest @ 9% for the area occupied by the company from 1st September 2007. Consequently the company was liable to pay rent/ compensation from 1st September 2007 to 31st March 2013 together with interest. The Company thereafter filed a Special Leave Petition before the Hon'ble Supreme Court in April 2013 which was disposed off on 10th May 2013. Further to dismissal of Special Leave Petition by the Hon'ble Supreme Court the Company handed over peaceful possession of premises to Dena Bank on 9th November 2013. As Company handed over peaceful possession of premises to Dena Bank and as Dena Bank has not initiated any further legal steps in any other court the Company does not foresee any other liability vide a legal opinion.During the year 2014 the premises at Dena Bank Building 1st Floor 17-B Horniman Circle Fort Mumbai 400 023 wherein the Company's Registered Office was situated were required to be surrendered consequent to the Court orders. Consequently the Company shifted its Registered Office to Bhupen Chambers Ground Floor Unit 1 Dalai Street Fort Mumbai 400 001 in compliance with the directive of the Hon'ble Supreme Court to hand over peaceful possession of the premises to Dena Bank.During the year 2014 Amalgamated Business Solutions Limited (ABSL) Subsidiary of the Company made a preferential issue of 1000 equity shares of Rs 10/- each pursuant to Section 81 (A) of the Companies Act 1956. Further to the allotment of the said shares the Company's holding in ABSL reduced to 49.40% of the enhanced capital of ABSL. Consequently ABSL ceased to be a Subsidiary Company.

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