Nv Realty Pvt. Ltd. v. -

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO. 210 OF 2016 In the matter of the Companies Act, 1956 (1 of 1956) (or re-enactment thereof upon effectiveness of Companies Act, 2013);

AND In the matter of 100 to 104 of the Companies Act, 1956;

AND In the matter of Reduction of Redeemable Optionally Convertible Preference Share Capital of NV Realty Private Limited NV REALTY PRIVATE LIMITED, a ) company incorporated under the ) Companies Act, 1956 and having its ) registered address at Ek Omkar Premises ) Co-Op Society, G-4, Khetan, Bhavan, ) 198, Jamshedji Tata Road, Churchgate, ) )........ Applicant Company Mumbai, Maharashtra - 400 020, India Called Summons for Direction for hearing Mr. Hemant Sethi, i/b. Hemant Sethi & Co., Advocates for the Applicant. Coram: B. P. Colabawalla, J Date: 1st April, 2016 MINUTES OF THE ORDER UPON the application of the Applicant Company above named by a Summons for Directions AND UPON HEARING Mr. Hemant Sethi instructed by Hemant Sethi & Co., Advocates for the Applicant Company, AND UPON READING the Affidavit dated 4th day

of February, 2016 and Additional Affidavit dated 28th day of March, 2016 of Mr. Bharat Joshi, Authorised Signatory of the Applicant Company, in support of Summons for Directions AND Article 8 of the Articles of Association of the Applicant Company that empowers the Applicant Company to reduce its Share Capital from time to time by passing a Special Resolution in any manner for the time being authorised by law AND the Applicant Company having passed Special Resolution with requisite majority at its Extraordinary General Meeting held on 2nd day of February, 2016 being Exhibit - F to the Affidavit in Support of Company Summons for Directions, approving the existing Preference Share Capital of the Company of Rs.

2,53,18,500 (Two Crores Fifty Three Lakhs Eighteen Thousand Five Hundred) divided into 2,53,185 (Two Lakh Fifty Three Thousand One Hundred Eighty Five) 0% Redeemable Optionally Convertible Preference of Rs. 100/- each fully paid up, shall be reduced by cancelling upto a maximum of 2,00,000 (Two Lakhs) 0% Redeemable Optionally Convertible Preference of Rs. 100/- each, fully paid up and returning capital to the Preference Shareholders an aggregate amount not exceeding Rs. 70,00,00,000 (Rupees Seventy Crores) for 0% Redeemable Optionally Convertible Preference of Rs.

of the Applicant's Unsecured Creditors or the ordinary operations of the Applicant or the ability of the Applicant to honour its debts in the ordinary course of business. In view of the above, the procedure prescribed under Section 101(2) of the Companies Act, 1956 is dispensed with.

(B. P. Colabawalla, J.) CERTIFICATE I certify that this Order uploaded is a true and correct copy of original signed order. Uploaded by: Shankar Gawde, Stenographer