1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SCHEME PETIITON NO 355 of 2010 CONNECTED WITH COMPANY SUMMONS FOR DIRECTION NO 386 OF 2010 In the matter of Companies Act, 1956; And In the matter of Sections 100 to 103 of the Companies Act, 1956 And In the matter of Reduction of Share Capital of Rajasthan Leasing Private Limited. Rajasthan Leasing Private Limited….Petitioner CORAM: S.J. VAZIFDAR, J DATE: 23RD JULY 2010 Mr. Hemant Sethi i/b Hemant Sethi & Co. advocates for the Petitioner. P.C 1. Heard the learned Counsel for the parties. 2. This is a petition seeking Courts approval for reduction of the Share Capital as approved by the Shareholders in its extraordinary General meeting held on 24th April 2010. 3. In paragraph 10 of the Petition, it is averred that the Petitioner had send notices to all the Shareholders along with explanatory statement in compliance with provisions of the Act for convening Extraordinary General meeting for which Special Resolution has been approved unanimously by all the Equity Share holders. Same has been annexed at Exhibit-E to the petition. Affidavit of service has been filed proving publication of 2 notices in newspapers and Maharashtra Government Gazette. 4. The Counsel appearing for the Petitioner states that in pursuance of order dated 25th June 2010 passed in the Company Summons for Direction No. 386 of 2010, the procedure as required under Section 101(2) of the Companies Act, 1956 was dispensed with in view consents given by all the Unsecured Creditors and that there are no Secured Creditors in the Petitioner Company. 5. In light of above, Mr Sethi appearing for Petitioner, seeks sanction to the reduction of share capital as approved by the Shareholders in the Extraordinary General Meeting held on 24th April 2010. 6. Having perused the petition and the annexure thereto, in my view, the petition deserved to be succeed and is accordingly made absolute in terms of prayer clause (a) and (b). 7. 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 Maharashtra Government Gazette about registration of Order and minutes of reduction by the concerned Registrar of Companies, Mumbai. ( S.J VAZIFDAR, J)