IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 978 OF 2007 CONNECTED WITH COMPANY APPLICATION NO. 1082 OF 2007 In the matter of the Companies Act, 1956 (1 of 1956); AND Somany Evergreen Knits Limited having its registered office at 6, Vaswani Mansion, Dinshaw Wachha Road, Backbay Reclamation, Mumbai – 400 020 AND In the matter of scheme of Arrangement under section 391 and 394 read with 100 between Somany Evergreen Knits Limited having its registered office at 6, Vaswani Mansion, Dinshaw Wachha Road, Backbay Reclamation, Mumbai – 400 020 and its Shareholders. Somany Evergreen Knits Limited incorporated under the Companies Act, 1956 and having its Registered Office at 6, Vaswani Mansion, Dinshaw Wacha Road, Backbay Reclamation, Mumbai – 400020. ] ] ] ] ] ] … Petitioner. Mr. Birendra Saraf alongwith Mr. Nikhil Rajani i/b M/s. V. Deshpande & Co., Advocate for the Petitioner Mrs. Heena Shah i/b. S. K. Mohapatra for Regional Director CORAM : A. M. Khanwilkar J. DATE : 1st February, 2008 MINUTES OF THE ORDER 1. Heard Learned Counsel for the parties 2. The sanction of the Court has been sought under Section 391 and 394 read with Section 100 of the Companies Act 1956 for sanctioning the Scheme of Compromise and Arrangement between Somany Evergreen Knits Ltd and its Shareholders & Creditors. -: 2 :- 3. Counsel appearing on behalf of the Petitioner have stated that they have complied with all requirements as per directions of this Hon’ble Court and they have filed necessary Affidavits of compliance in in the Court. However, Petitioner Company also undertakes to comply with all statutory requirements if any, as required under the Companies Act. 4. The Regional Director in his Affidavit has stated that the Scheme is not prejudicial to the interest of Creditors and Shareholders and public. 5. Upon perusal of the entire material placed on record, the Scheme appears to be fair and reasonable and is not violative of any principles of law and is not contrary to any public policy. None of the parties concerned has come forward to oppose the Scheme. 6. The counsel for the Petitioner Company informs the Court that the Petitioner shall comply with the Provisions of law us upheld by the Court of Law. 7. There is no objection to the Scheme and since all the requisite statutory compliances has been fulfilled, Company Petition is made absolute in terms of prayer clause (a) to (e). 8. The Petitioner Company to lodge a copy of the Order and the scheme with the concerned Superintendent of Stamps for the purpose of adjudication of Stamp Duty payable, if any, on the same within 30 days of obtaining the Certified Copy and / or Authenticated Copy of the order. 9. The Petitioner to pay cost of Rs. 5,000/- to the Regional Director. Cost to be paid within four weeks from today. 10. Filing and issuance of drawn up order is dispensed with. -: 3 :- 11. All concerned parties to act on copy of this order along with Scheme and the form of minutes annexed to this Petition. Minutes of reduction of Share Capital along with this order be filed with the concerned Registrar of Companies, Mumbai. Company Judge