1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICITON COMPANY SUMMONS FOR DIRECTION NO 832 OF 2010 In the matter of Sections 391 & 394 of the Companies Act, 1956; And In the matter of Scheme of Arrangement Between Sakun Textiles Industries Private Limited And Sakun Textile Exports Private Limited And Their Respective Shareholders. Sakun Textiles Industries Private Limited, a Company } Incorporated under the provisions of Companies Act, 1956 } having its registered office at 280, Sanjay Building No. 5, } B – Wing, 2nd Floor, Mittal Industrial Estate, } Andheri Kurla Road, Andheri – East, Mumbai - 400 059 } …..Applicant Called for Summons for Direction Coram: S.J. VAZIFDAR, J Date : 16th DECEMEBR 2010 Mr. Hemant Sethi i/b. Hemant Sethi & Co., for Applicant MINUTES OF ORDER UPON the application of the Applicant Company abovenamed by a Company Summons for Direction AND UPON HEARING Mr. Hemant Sethi instructed by Hemant Sethi & Co., Advocates for the Applicant Company, AND UPON READING the Affidavit dated 10th day of December 2010 of Mr. Devendra Jalan, Director of the Applicant Company, in support of Company Summons for Direction, IT IS ORDERED: 1. That convening and holding the meeting of the Equity Shareholders of Sakun Textiles Industries Private Limited, the Applicant Company, for the purpose of considering and, if thought fit, approving, with or without modification(s), the Arrangement embodied in the proposed Scheme of 2 Arrangement between Sakun Textiles Industries Private Limited, the Applicant/Demerged Company and Sakun Textile Exports Private Limited, the Transferee Company and their respective Shareholders is dispensed with in view of the consents given by all the Equity Shareholders of the Applicant Company which are annexed as Exhibits D1 to D22 to the Affidavit in support of Company Summons for Direction. 2. That convening and holding the meeting of Sole Secured Creditor of Sakun Textiles Industries Private Limited, the Applicant Company, for the purpose of considering and, if thought fit, approving, with or without modification(s), the arrangement embodied in the proposed Scheme of Arrangement between Sakun Textiles Industries Private Limited, the Applicant/Demerged Company and Sakun Textile Exports Private Limited, the Transferee Company and their respective Shareholders is dispensed with in view of the consent given by Sole Secured Creditor of the Applicant Company which is annexed as Exhibit E to the Affidavit in support of Company Summons for Direction. 3. That convening and holding the meeting of Unsecured Creditors of Sakun Textiles Industries Private Limited, the Applicant Company, for the purpose of considering and, if thought fit, approving, with or without modification(s), the Arrangement embodied in the proposed Scheme of Arrangement between Sakun Textiles Industries Private Limited, the Applicant/Demerged Company and Sakun Textile Exports Private Limited, the Transferee Company and their respective Shareholders is dispensed with in view of consents given by all the Unsecured Creditors 3 of the Applicant Company which is annexed as Exhibits F1 to F10 to the Affidavit in support of Company Summons for Direction. (S.J. VAZIFDAR, J)