IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 158 OF 2008 CONNECTED WITH COMPANY APPLICATION NO. 201 OF 2008 In the matter of Companies Act, 1956; And In the matter of Sections 100 and 101 of the Companies Act, 1956 And In the matter of Scheme of Reduction of Share Capital of Credence Securities Private Limited CREDENCE SECURITIES PRIVATE LIMITED ……. Petitioner CORAM: A.M. KHANWILKAR J. DATE: 14TH MARCH, 2008 Satyan S. Israni, Advocate for the Petitioner. P.C. 1. This is a Petition seeking the Court’s approval for reduction of the Share Capital as approved in a Special Resolution passed by the Equity Shareholders in their Extra Ordinary General Meeting held on 26th November, 2007. 2. The reason for reduction of share capital is stated in paragraph 17 of the Petition. The Board Resolution is passed on 1st November 2007. 3. An order of dispensation was passed by the Court in respect of the procedure under section 101(2) of the Companies Act, 1956 on 15th February, 2008 in the Company Application No. 201 of 2008. 4. The Counsel appearing for the Petitioner states that the Petitioner Company has no Secured or Unsecured Creditors. 5. Counsel appearing on behalf of the Petitioner states that they have complied with all statutory requirements as per direction of the Court and they have filed necessary Affidavit of compliance in the court. Petitioner Company also undertakes to comply with the statutory requirements if any, as required under the Companies Act, 1956 and the rules made there under. 6. In the light of the above, Mr. Israni, appearing for the Petitioner, seeks sanction to the reduction of share capital. The Counsel for the Petitioner Company further informs the Court that the Petitioner shall comply with the provisions of law as upheld by the Courts of law. 7. 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 clause (a) and (b). 8. All concerned parties to act on ordinary copy of this order and the form of minutes annexed to this Petition being Exhibit ‘F’. Petitioner to publish notices in the same newspapers i.e. ‘Maharashtra Times’ (Marathi Newspaper) and ‘The Free Press Journal’ (English Newspaper), both circulated in Mumbai and also in the Maharashtra 2 Government Gazette about registration of Order and minutes of reduction by the concerned Registrar of Companies, Mumbai. (A.M. Khanwilkar, J) 3