:1: IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 754 OF 2008 COMPANY PETITION NO. 754 OF 2008 COMPANY PETITION NO. 754 OF 2008 CONNECTED WITH CONNECTED WITH CONNECTED WITH COMPANY APPLICATION NO. 1269 OF 2008 COMPANY APPLICATION NO. 1269 OF 2008 COMPANY APPLICATION NO. 1269 OF 2008 In the matter of Companies Act, 1956; And In the matter of Sections 100 to 104 of the Companies Act, 1956; And In the matter of Reduction of Share Capital of Vazir Glass Works Private Limited. Vazir Glass Works Pvt. Ltd. ..Petitioner Mr. Zain A. K. Najam-es-sani i/b. Mulla & Mulla & Craigie Blunt & Caroe for the Petitioner. CORAM : S. A. BOBDE, J. CORAM : S. A. BOBDE, J. CORAM : S. A. BOBDE, J. DATE : 12TH SEPTEMBER, 2008. DATE : 12TH SEPTEMBER, 2008. DATE : 12TH SEPTEMBER, 2008. P.C. P.C. P.C. . Heard learned counsel for the petitioner. 2. The sanction of the Court is sought under Sections 100 to 104 of the Companies Act, 1956, to the Scheme of Reduction of the Equity Share Capital of Vazir Glass Works Pvt. Ltd., the Petitioner :2: Company. 3. The reasons for the reduction are stated in paragraph 9 of the petition. The Board of Directors of the Petitioner Company at its meeting held on 7th February, 2008 approved the cancellation of a part of paid-up equity share capital which is unrepresented by available assets, subject to the approval of the shareholders by way of a special resolution and also subject to the confirmation by this Court. A Special Resolution was passed by the shareholders of the petitioner company at an Extra Ordinary General Meeting of the company held on 29th February, 2008. 4. An order of dispensation of procedure under section 101(2) of the Companies Act, 1956 was passed by this Court on 22nd August 2008 in Company Application No. 1269 of 2008. 5. Counsel appearing for the petitioner has stated that all the requirements as per the directions of this court have been complied with and that they have filed necessary Affidavit of compliance in the court. Moreover, the petitioner company also undertakes to comply with all statutory :3: requirements, if any, as required under the Companies Act, 1956 and the rules made thereunder. 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, Company Petition No. 754 of 2008 is made absolute in terms of prayer clauses (a) and (d). 7. Filing and Issuance of Drawn Up Order is dispensed with. 8. All Authorities concerned to act on a copy of this Order along with the Form of Minutes annexed to the further Affidavit in Support of the Petition, duly authenticated by the Company Registrar, High Court, Bombay. 9. 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 the registration of the order and the minutes of the reduction by the concerned Registrar of Companies, Mumbai. :4: (S. A. BOBDE, J.) (S. A. BOBDE, J.) (S. A. BOBDE, J.)