IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.755 OF 2009 CONNECTED WITH COMPANY APPLICATION NO.923 OF 2009 In the matter of the Companies Act, 1956 (1 of 1956) AND In the matter of Section 100 to 104 of the Companies Act, 1956; AND In the matter of the Reduction of Equity Share Capital of Midpoint Software & Electro Systems Limited having its Registered Office at D-22/8, MIDC, TTC Industrial Area, Thane Belapur Road, Turbhe, Navi Mumbai- 400 705 Midpoint Software & Electro Systems Limited. …. Petitioner Company CORAM: S. J. Kathawalla, J. DATED: 9th October, 2009 PC: Mr. Vivek Shiralkar / Mr. Sushant Chavan i/b Shiralkar & Co., Advocate(s) for the Petitioner Company. 1. Heard learned counsel for the Petitioner Company. 2. The sanction of the Court has been sought for the Reduction of Share Capital of Midpoint Software & Electro Systems Limited, the Petitioner Company as approved in the Special Resolution passed by its Equity Shareholders at their Annual General Meeting held on 14th August, 2009. 1 3. The reasons for reduction of Share Capital are stated in paragraph 7 of the Petition. 4. An order of dispensation of the procedure under Section 101(2) of the Companies Act, 1956 was passed by this Court on 11th day of September, 2009 in the Company Application No.923 of 2009. 5. Counsel appearing on behalf of the Petitioner states that they have complied with all the statutory requirements as per the directions of this Court and they have filed necessary affidavit of compliance in the Court. Moreover, Petitioner Company also undertakes to comply with statutory requirements, if any, as required under the Companies Act, 1956 and the Rules made there under. 6. None of the parties concerned have come forward to oppose the proposed reduction of share capital. Since the requisite statutory procedure has been fulfilled, the Petition is made absolute in terms of prayer clauses (a) to (c). 7. All concerned parties to act on ordinary copy of order and the form of minutes annexed as Exhibit –“I” to the Petition, duly authenticated by the Company Registrar, High Court, Bombay. 8. Petitioner to publish notices in the same newspapers i.e. “Free Press Journal” in English and “Maharashtra Times” in Marathi both having circulation in Mumbai and also in the Maharashtra Government Gazette about registration of order and minutes of reduction by the concerned Registrar of Companies, Mumbai. (S. J. Kathawalla, J.) 2