IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO. 220 OF 2011 In the matter of the Companies Act I of 1956 AND In the matter of Sections 391 to 394 read with Sections 100 to 103 of the Companies Act, 1956 AND In the matter of the Scheme of Arrangement between Kolsite Maschine Fabrik Private Limited. AND Mahashree Plastic Industries Private Limited. AND Ganges Urethane Private Limited. KOLSITE MASCHINE FABRIK PRIVATE LIMITED ) a Company incorporated under the Companies ) Act, 1956 and having its Registered Office at ) Kolsite House, Veera Desai Road, ) Andheri (West) Mumbai – 400 053 )...….... APPLICANT Called Summons for Direction CORAM : S.J.VAZIFDAR,J DATE : 1st APRIL, 2011 Mr. Hemant Sethi i/b Hemant Sethi & Co, Advocates for the Applicant Company MINUTES OF ORDER Upon the application of the Applicant abovenamed by a Company Summons for Direction AND UPON hearing Mr. Hemant Sethi i/b Hemant Sethi & Co, Advocate for the Applicant Company, AND UPON reading the Affidavit dated 14th March, 2011, of Shreevallabh Kabra, 2 Director of the Applicant Company in support of Company Summons for Direction and the Exhibits referred to therein, IT IS ORDERED:- 1. That convening and holding of the meeting of the Equity Shareholders of the Applicant Company, for the purpose of considering, and if thought fit, approving, with or without modifications, the Scheme of Arrangement between Kolsite Maschine Fabrik Private Limited, the Applicant/First Transferor Company and Mahashree Plastic Industries Private Limited, the Second Transferor Company and Ganges Urethane Private Limited, the Transferee Company is dispensed with in view of the consents given by all the Equity Shareholders of the Applicant Company which are annexed as Exhibits “C-1 to C-13” to the Affidavit in Support of Company Summons for Direction. 2. That there are no Secured Creditors of the Applicant Company as stated in paragraph 30 of the Affidavit in Support of Company Summons for Direction. Hence, the question of convening and holding meeting of Secured Creditors does not arise. 3. That convening and holding of the meeting of the Unsecured Creditors of the Applicant Company, for the purpose of considering, and if thought fit, approving, with or without modifications, the Scheme of Arrangement between Kolsite Maschine Fabrik Private Limited, the Applicant/First Transferor Company and Mahashree Plastic Industries Private Limited, the Second Transferor Company and Ganges Urethane Private Limited, the Transferee Company is dispensed with in view of averments made in paragraphs 24 and 31 of the Affidavit in Support of Company Summons for Direction. The Applicant Company undertakes to issue individual notice of the date of hearing of the Petition by Registered Post A.D. to all its Unsecured Creditors. The said undertaking is accepted. (S. J. VAZIFDAR, J)