IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 32 OF 2008 CONNECTED WITH COMPANY APPLICATION NO.26 OF 2008 In the matter of Section 100 to 103 of the Companies Act, 1956; In the matter of Reduction of Share Capital of Welspun Syntex Limited. Welspun Syntex Limited ... Petitioner Company Mr.Simil Purohit i/b. Kanga & Co. for the Petitioner. CORAM: A.M. KHANWILKAR J. DATE : 8th FEBRUARY 2008 PC: 1. Heard Learned Counsel for the parties. 2. The sanction of the Court has been sought for the reduction of share capital as approved in a Special Resolution passed by the Shareholders of the Petitioner Company at an Extra Ordinary General Meeting held on 6th November 2007, in terms of the following Minutes:- The issued, subscribed & paid up capital of Welspun Syntex Limited is Rs.23,64,50,270 divided into 2,36,45,027 equity shares of Rs.10 each fully paid up, 32,03,300 optionally convertible cumulative preference shares of Rs.10 each paid up value Rs.1,93,63,667 and 1,00,00,000 10 % redeemable cumulative Preference shares of Rs.10 each paid up value Rs.8,33,33,000 reduced from Rs.94,58,01,090 divided into 9,45,80,109 equity shares of Rs.10/- each fully paid up, 32,03,300 optionally convertible cumulative preference shares of Rs.10 each paid up value Rs.1,93,63,667/- and 1,00,00,000 10 % redeemable cumulative Preference shares of Rs.10/- each paid up value Rs.8,33,33,000/- . 3. An order of dispensation was passed by this Court in respect of the procedure under Section 101(2) of the Companies Act, 1956 on 11th January 2008 in the Company Application No. 26 of 2008. 2 4. The Counsel of the Petitioner Company informs the Court that the Petitioner shall comply with the provisions of law as upheld by the Court of Law. 5. In these circumstances, the requisite statutory procedure has been fulfilled. Since no objection has been received, the Petition is made absolute in terms of prayer clauses (a) to (d). 6. All concerned parties to act on ordinary copy of order and the form of minutes annexed to this Petition. Petitioner to publish notices in the same newspapers and also in the Gujarat Government Gazette about registration of Order and minutes of reduction by the concerned Registrar of Companies, Gujarat. (A. M. Khanwilkar J.) 3