1 rng 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.1067 OF 2008 COMPANY PETITION NO.1067 OF 2008 COMPANY PETITION NO.1067 OF 2008 CONNECTED WITH CONNECTED WITH CONNECTED WITH COMPANY APPLICATION NO.1680 OF 2008 COMPANY APPLICATION NO.1680 OF 2008 COMPANY APPLICATION NO.1680 OF 2008 In the matter of the Companies Act, 1956 ; And In the matter of sections 100 to 105 of the Companies Act, 1956; And In the matter of the Reduction of Equity Share Capital Account of India Value Fund Advisors Private Limited India Value Fund Advisors Private Limited .. Petitioner Company Mr.Rajesh Shah i.b Rajesh Shah & Co for Petitioner Mr.C.J.Joy with Mr.V.B.Tiwari, Mr.P.Khosla i.b Mr.S.K.Mohapatra for Regional Director CORAM : S.J.Vazifdar, J CORAM : S.J.Vazifdar, J CORAM : S.J.Vazifdar, J DATED : 13th February, 2009 DATED : 13th February, 2009 DATED : 13th February, 2009 P.C. 1. The petitioner seeks an approval for reduction of its equity share capital. The necessary resolution of the board of directors has been passed. All the other formalities have been complied with. By an order dated 19th December, 2008 the Regional Director was ordered to be given notice and the learned judge directed the Regional Director to obtain a certificate from a qualified Auditor/Chartered Accountant empanelled with the Registrar of Companies/Regional Director on the question as to whether the proposed reduction does or does not involve diminuation of 2 liability and is not prejudicial to the interest of creditors. Accordingly, a report has been prepared by the Chartered Accountant, S.B.Joshi and Associates. 2. Considering the report of the Chartered Accountant and the record, there can be no objection to the petition being allowed. 3. In the circumstances, petition is made absolute in terms of prayer clauses (a) and (b). 4. The petitioner shall pay costs fixed at Rs.7500/- to the Regional Director within four weeks from today. 5. Filing and issuance of drawn up order is dispensed with. 6. All authorities concerned to act on an authenticated copy of this order and the Form of Minutes annexed as Exhibit A to the Petition, duly authenticated by the Company Registrar, High Court, Bombay. 7. Petitioner to publish notices in the same newspaper i.e.’Free Press Journal’ in English and ’Maharashtra Times’ in Marathi and also in the Maharashtra Government Gazettee about registration of order and minutes of reduction by the concerned Registrar of Companies, Mumbai.