IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO. 178 OF 2010 In the matter of Companies Act, 1956(“the Act”); And In the matter of Sections 100 to 104 of the Companies Act, 1956; And In the matter of reduction of the Equity Share Capital of the GIC Asset Management Company Limited; And In the matter of the GIC Asset Management Company Ltd; GIC Asset Management Company Ltd., a Company incorporated and registered under the Companies Act, 1956 and having its registered office at P. Jeejeebhoy Tower, 22nd Floor, Dalal Street, Fort, Mumbai- 400 001 ) ) ) ) ) ) ) … Applicant Called Summons for Directions Coram: S. J. Kathawalla J. Dated: 19th March, 2010 Mr. Kunal Vajani and Mr. Ankit Virmani i/b M/s. Wadia Ghandy & Co., Advocates for the Applicant MINUTES OF ORDER UPON THE APPLICATION of the abovenamed Applicant by a Summons for Direction AND UPON HEARING the Advocates appearing on behalf of the Applicant AND UPON READING the Affidavit dated 20th February, 2010 of Mr. M. Raghavendra, Director of the Applicant in 2 support of Summons for Direction AND the Applicant having passed a Special Resolution at the Extra Ordinary General Meeting of its Equity Shareholders held on 24th November, 2009 AND in view of the averments made in paragraph 10 of the said Affidavit that the reduction of share capital does not involve diminution of any liability in respect of unpaid share capital but only involves payment to the shareholders of paid up share capital of the Applicant, and the averments made in paragraph 20 of the said Affidavit that the Applicant does not have any creditors whatsoever, a case under the provisions of Section 101 (3) has been made out and accordingly, the provisions of and the procedure prescribed under Section 101 (2) of the Companies Act, 1956 are dispensed with. (S.J. KATHAWALLA, J.)