1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.233 OF 2008 CONNECTED WITH COMPANY APPLICATION NO.110 OF 2008 In the matter of Companies Act, 1956; And In the matter of Sections 391 of the Companies Act, 1956; And In the matter of Scheme of Arrangement between Blue Star Limited and its shareholders. Blue Star Limited. ....Petitioner Company Hemant Sethi i/by Hemant Sethi & Co. Mr. D. A. Dubey with Mr. S.K Mohapatra for R.D. CORAM: A. S. Oka J DATE: 11th April 2008 PC: 1. Heard learned counsel for parties. 2. The sanction of the Court is sought under Section 391 to 394 of the Companies Act, 1956 to a Scheme of Arrangement between Blue Star Limited and and their respective shareholders. 3. Counsel appearing on behalf of the Petitioner has stated that they have complied with all the requirements as per directions of this Hon’ble Court and they have filed necessary affidavits of compliance in the Court. 4. The Regional Director has filed affidavit and has stated that the Scheme is not prejudicial to the interest of Creditors and Shareholders and public. 5. Upon perusal of the entire material on record, the Scheme appears to be 2 fair and reasonable and is not violative of any provisions of law and is not contrary to any public policy. None of the parties concerned have come forward to oppose the Scheme. 7. There is no objection to the Scheme and since all the requisite statutory compliances have been fulfilled, Company Petition is made absolute in terms of prayer clause (a). 8. Petitioner Company, if required to lodge copy of this order and the Scheme with the concerned Superintendent of Stamps for the purpose adjudication of stamp duty, payable, if any, on the same within 30 days of obtaining the authenticated and/or certified copy of this Order. 9. The Petitioner to pay costs of Rs.5000/- to the Regional Director. Costs to be paid within four weeks from today. Petitioner to comply with all the statutory compliances, applicable, if any. 10. Filing and issuance of the drawn up order is dispensed with. All concerned authorities to act on a copy of this order and the Scheme exhibited to the Petition duly authenticated by Company Registrar, High Court, Bombay. (A. S. OKA J)