IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINATY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTIONS NO. 302 OF 2010 In the matter of the Companies Act, 1956 And In the matter of Sections 100 to 104 of the Companies Act, 1956 And In the matter of Application under Section 100 to 104 of the Companies Act 1956 for confirming the reduction of share capital of Indiacom Limited Indiacom Limited, a Company Incorporated under ) the provisions of the Companies Act, 1956 having ) its registered office at Hermes Heritage, ) Commercial (Phase 1), Shastrinagar,Nagar Road, ) Pune 411006, Maharashtra )…Applicant Company Called Summons for Directions Coarm: S. J. KATHAWALLA J. Date: 30th day of April 2010 Mr. Rahul Risbud Advocate for Applicant MINUTES OF THE ORDER UPON THE APPLICATION of the abovenamed Applicant Company by a Summons For Directions AND UPON HEARING Rahul A. Risbud, Advocate for the Applicant Company AND UPON READING the Affidavit dated 12th April, 2010 of Mr. V. Srinivasa Rao, Executive Director of the Applicant Company, in support of Summons For Directions AND the Applicant Company having passed a Special Resolution at the Annual General Meeting of its Equity Shareholders held on 30th March, 2010 and in view of the averments made in 1 Paragraph Nos. 13 and 14 of the said Affidavit, that the reduction of share capital does not involve any financial outflow/ outgo of funds or payment to the Equity Shareholders on the part of the Applicant Company or diminution in the liability in respect of the of the unpaid share capital and therefore the provisions and procedure prescribed under Section 101 (2) of the Companies Act, 1956 is not applicable and the same is dispensed with. (S. J. KATHAWALLA J.) 2