IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO. 444 OF 2010 In the matter of the Companies Act, 1956 (1 of 1956); AND In the matter of Sections 391 to 394 of the Companies Act, 1956; AND In the matter of the Composite Scheme of Arrangement between Karma Energy Limited (“KEL” or “the First Transferor Company”) and Weizmann Forex Limited (“WFL” or “the Second Transferor Company”) and Weizmann Limited (“WL” or “the Transferee Company” or “the Demerged Company”) and Karma Wind Power Limited (“KWPL” or “the Resulting Company No. 1”) and Chanakya Holdings Limited (“CHL” or “the Resulting Company No. 2”); AND Their Respective Shareholders KARMA ENERGY LIMITED, a company incorporated under the Companies Act, 1956 having its Registered Office at 26, Gobind Mahal, 86-B, Netaji Subhash Road, Marine Drive, Mumbai 400 002. ) ) ) ) ……………Applicant Company CALLED FOR SUMMONS FOR DIRECTION 1 Coram: S. J. VAZIFDAR J. Date: 25th June, 2010 Mr. Rajesh Shah i/b M/s. Rajesh Shah & Co., Advocate for the Applicant MINUTES OF THE ORDER UPON the Application of the Applicant Company above named by a Summons for Direction AND UPON HEARING Mr. Rajesh Shah, Advocate for the Applicant Company, AND UPON READING the Affidavit dated 18th day of June, 2010 of Mr. T.V. Subramanian, Authorised Signatory of the Applicant Company, in support of the Summons for Direction and the exhibit therein referred to, IT IS ORDERED:- 1. THAT convening and holding of the meeting of the Equity Shareholders of Karma Energy Limited (the Applicant / First Transferor Company) to consider, and if thought fit, approve, with or without modifications, the proposed Composite Scheme of Arrangement between Karma Energy Limited and Weizmann Forex Limited and Weizmann Limited and Karma Wind Power Limited and Chanakya Holdings Limited and their respective shareholders, is dispensed with in view of the consents given by the sole Equity Shareholder of the Applicant Company, which is annexed as Exhibit C to the Affidavit in support of the Summons for Direction. 2. That the convening and holding of the meeting of the Secured Creditors of the Applicant Company to consider and if thought fit, approve with or without modifications, the proposed arrangement embodied in the Composite Scheme of 2 Arrangement between Karma Energy Limited and Weizmann Forex Limited and Weizmann Limited and Karma Wind Power Limited and Chanakya Holdings Limited and their respective shareholders is dispensed with in view of the averments made in paragraph 12 of the Affidavit in support of the Summons for Direction. The Applicant Company undertakes to give individual notice of date of hearing of Petition by Registered Post A.D to its sole Secured Creditor and also to publish the same in Free Press Journal, in English and Maharashtra Times in Marathi both having circulation in Mumbai. The said undertaking is accepted. 3. That the convening and holding of the meeting of the Unsecured Creditors of the Applicant Company to consider and if thought fit, approve with or without modifications, the proposed arrangement embodied in the Composite Scheme of Arrangement between Karma Energy Limited and Weizmann Forex Limited and Weizmann Limited and Karma Wind Power Limited and Chanakya Holdings Limited and their respective shareholders is dispensed with in view of the averment made in paragraph 13 of the Affidavit in support of the Summons for Direction. The Applicant Company undertakes to give individual notice of date of hearing of Petition by Registered Post A.D to all its Unsecured Creditors and also to publish the same in Free Press Journal, in English and Maharashtra Times in Marathi both having circulation in Mumbai. The said undertaking is accepted. (S. J. VAZIFDAR, J.) 3