1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 1054 OF 2009. CONNECTED WITH COMPANY APPLICATION NO. 1319 OF 2009 In the matter of the Companies Act, 1956; And In the matter of Sections 78 and 100 to 104 of the Companies Act, 1956. And In the matter of Reduction of Share Capital (by Utilization Securities Premium Account) of Next Gen Publishing Limited. M/s. Next Gen Publishing Limited ) A Company incorporated under ) The Companies Act, 1956 and having ) Its registered Office at Khatau House, ) 2nd floor, Mogul Lane, Mahim (West), ) Mumbai 400 016. )………………..Petitioner. CORAM: S.J. Kathawalla, J. DATE: 29th January, 2010 Mr. Shaym Mehta with Mr. Shehzad A.K. Najam-es-sani i/b. Maneksha & Sethna for the Petitioners. P.C.: 1. Heard learned counsel for the Petitioner. 2. The sanction of the Court has been sought for the Reduction of Share Capital of NEXT GEN PUBLISHING LIMITED, the Petitioner Company, under Sections 100 to 105 of the Companies Act, 1956, as approved in the 2 Special Resolutions passed by its Equity Shareholders at the Extraordinary General Meeting held on the 23rd day of October, 2009. 3. The reasons for reduction of Share Capital are stated in paragraph 16 of the Petition. 4. An order for dispensation of the procedure under Section 101(2) of the Companies Act, 1956 was passed by this Court on 18th December, 2009 in Company Application No. 1319 of 2009. 5. Counsel appearing on behalf of the Petitioner states that they have complied with all the statutory requirements as per the directions of this Court and they have filed necessary affidavit of compliance in the Court. Moreover, Petitioner Company undertakes to comply with statutory requirements, if any, as required under the Companies Act, 1956 and the Rules made thereunder. Undertaking is accepted. 6. None of the parties concerned have come forward to oppose the proposed reduction of Share Capital. Since the requisite statutory procedure has been fulfilled, the Petition is made absolute in terms of prayer clauses (a) and (c). 7. All concerned parties to act on ordinary copy of order alongwith the form of minutes annexed as Exhibit “H” to the petition, duly authenticated by the Company Registrar, High Court, Bombay. 3 8. Petitioner to publish notices in the same newspapers i.e. Free Press Journal (Mumbai Edition) in English and Maharashtra Times (Mumbai Edition) in Marathi and in the Maharashtra Government Gazette about registration of Order and minutes of reduction by the concerned Registrar of Companies, Mumbai, within 21 days from the date of registration. (S. J. Kathawalla, J.)