Biyani Financial Services Pvt Ltd. v. -

THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO.293 OF 2015. In the matter of the Companies Act I of 1956.

AND In the matter of Sections 391 to 394 of the Companies Act, 1956.

AND In the matter of the Scheme of Arrangement between:

Vikabh Securities Private Limited.

AND Biyani Securities (Counter Exchange) Private Limited.

AND Biyani Securities (Jaipur) Private Limited.

AND Biyani Securities (Equity Research) Private Limited.

AND HRB Developers And Builders Private Limited.

AND Biyani Financial Services Private Limited.

AND their Respective shareholders.

Biyani Financial Services Private Limited, a ) Company incorporated Under the Companies ) Act, 1956 and having its Registered Office at ) 14B, Khatau Building, A D Modi Marg, ) Fort, Mumbai- 400 023 )....Applicant Company Called Summons for Direction for hearing Mr. Chandrakant Mhadeshwar, Advocates for the Applicant Company.

CORAM : S. J. KATHAWALLA, J DATE : 10TH APRIL, 2015 MINUTES OF ORDER UPON the application of the Applicant Company above named by a Summons for Direction AND UPON HEARING Mr. Chandrakant Mhadeshwar, Advocates for the Applicant Company, AND UPON READING the Affidavit dated 23rd day of March, 2015 of Mr. Vishvesh Bhatt, Authorised Signatory of the Applicant Company, in support of Company Summons for Direction and the Exhibits referred to therein, IT IS ORDERED THAT:- 1.

The convening and holding the meeting of the Equity Shareholders of the Applicant Company, for the purpose of considering, and if thought fit, approving, with or without modification(s), the proposed Scheme of Arrangement between Vikabh Securities Private Limited and Biyani Securities (Counter Exchange) Private Limited and Biyani Securities (Jaipur) Private Limited and Biyani Securities (Equity Research) Private Limited and HRB Developers And Builders Private Limited and Biyani Financial Services Private Limited and their respective shareholders, is dispensed with in view of the consent given by all the Three Equity Shareholders of the Applicant

Company which are annexed as Exhibits "O-1" to "O-3" to the Affidavit in Support of Company Summons for Direction. 2.

There are no Secured Creditors of the Applicant Company as stated in paragraph 19 of the Affidavit in Support of Company Summons for Direction. Hence, the question of convening and holding meeting of Secured Creditors does not arise.

3.

The convening and holding the meeting of the Unsecured Creditors of the Applicant Company for the purpose of considering and if thought fit, approving, with or without modification(s) the proposed Scheme of Arrangement between Vikabh Securities Private Limited and Biyani Securities (Counter Exchange) Private Limited and Biyani Securities (Jaipur) Private Limited and Biyani Securities (Equity Research) Private Limited and HRB Developers And Builders Private Limited and Biyani Financial Services Private Limited and their respective shareholders, is dispensed with in view of the consent given by the Unsecured Creditor of the Applicant Company, which is annexed as Exhibit "P" to the Affidavit in support of Summons for Direction.

(S. J. KATHAWALLA, J.)