IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINATY ORIGINAL CIVIL JURISDICTION SUMMONS FOR DIRECTIONS NO. 145 OF 2010 In the matter of the 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 Preferred Builders And Promoters Realty Limited Preferred Builders And Promoters Realty Limited ) a Company Incorporated under the Companies Act, ) 1956 and having its Registered Office At 501-502, ) Mantri Terrace, Thube Park, Shivaji Nagar, Pune - 411 005) ……. Applicant Called Summons for Directions Coarm: S. J. KATHAWALLA J. Date: 26TH FEBRUARY 2010 Mr. Rahul Risbud Advocate for Applicant MINUTES OF THE ORDER UPON THE APPLICATION of the abovenamed Applicant Company by a Summons For Directions AND UPON HEARING Rahul A. Risbud, Advocate for the Applicant Company AND UPON READING the Affidavit dated 22nd January, 2010 of Mr. Ranjit Dattaji Naiknavare, Managing Director of the Applicant Company, in support of Summons For Directions AND the Applicant Company having passed a Special Resolution at the Annual 1 General Meeting of its Equity Shareholders held on 30th September, 2009 and in view of the averments made in Paragraph Nos. 13 and 14 of the said Affidavit, that the reduction of share capital does not involve any financial outflow/ outgo of funds or payment to the Equity Shareholders on the part of the Applicant Company or diminution in the liability in respect of the of the unpaid share capital and that there are no creditors of the Applicant Company as on date of the Affidavit and therefore the provisions and procedure prescribed under Section 101 (2) of the Companies Act, 1956 is not applicable and the same is dispensed with. (S. J. KATHAWALLA J.) 2