1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 578 OF 2009 CONNECTED WITH COMPANY APPLICATION NO. 712 OF 2009 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 reduction of Capital Reserve Account, Amalgamation Reserve Account and General Reserves Account of Ultramarine & Pigments Limited. And In the matter of Ultramarine & Pigments Limited. 2 Ultramarine & Pigments Limited. ) a Company incorporated and registered ) under the Companies Act, 1956 and ) having its registered office at ) Thirumalai House, Plot No. 101/102, ) Road No. 29, Near Sion Hill Fort, ) Sion [East], Mumbai – 400 022 ) ..Petitioner Company CORAM: S. J. KATHAWALLA J. DATE: 5th August, 2009 Mr. Sandeep Parikh i/b Deven Dwarkadas & Partners for Petitioner P.C.: 1. Heard Learned counsel for the Petitioner. 2. The sanction of the Court has been sought for the reduction of Capital Reserve Account, Amalgamation Reserve Account and General Reserve Account of the Petitioner Company as approved in a Special Resolution passed by the shareholders of the Petitioner Company at an Extra Ordinary General Meeting held on 9th March, 2009. 3 3. The reasons for the reduction of Capital Reserve Account, Amalgamation Reserve Account and General Reserve Account are stated in paragraphs 8 to 12. The Board of Directors approved the Resolution for reduction Capital Reserve Account, Amalgamation Reserve Account and General Reserve Account in its Meeting held on 28TH January, 2009. 4. An order of dispensation of the procedure under Section101 (2) of the Companies Act, 196 was passed by this Court on 3rd July, 2009 in the Company Application No. 712 of 2009 5. Counsel appearing on behalf of the Petitioner states that they have complied with all statutory requirements as per the directions of this Court and they have filed necessary affidavits 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. 4 6. None of the parties concerned have come forward to oppose the proposed reduction of Capital Reserve Account, Amalgamation Reserve Account and General Reserve Account. Since, the requisite statutory procedure has been fulfilled; the Petition has been made absolute in terms of prayer clauses (a) to (f). 7. All concerned parties to act on ordinary copy of order and the form of minutes annexed to this Petition at Page No.146 duly authenticated by the Company Registrar 8. Petitioner to publish notices in the same Newspapers i.e. Maharashtra Times in Marathi and Free Press Journal in English and also in the Maharashtra Government Gazette about registration of Order and minutes of reduction by the concerned Registrar of Companies, Mumbai, within 21 days from the date of registration. (S. J. KATHAWALLA. J.)