John Deere India Pvt. Ltd. v. -

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SCHEME PETITION NO 472 OF 2016 In the matter of the Companies Act, 1956 (1 of 1956);

And In the matter of Sections 100 to 104 of the Companies Act, 1956 And In the matter of Reduction of Equity Share Capital of John Deere India Private Limited John Deere India Private Limited, a } company incorporated under the } provisions of Companies Act, 1956, } having its Registered office at Tower } XIV, Cyber City, Magarpatta City, }.........Petitioner Company Hadapsar, Pune -411013, Maharashtra Mr. Hemant Sethi, i/b. Hemant Sethi & Co., Advocates for the Petitioner. CORAM: S.C Gupte, J DATE: 19th August , 2016 1.

Heard the learned counsel for the Petitioner. No objector has come before the Court to oppose the Reduction of Share Capital and nor any party has contravened any averments made in the Petition. 2.

The Counsel for the Petitioner submit that the Petitioner Company has adopted Schedule I as set out in Table A of the Companies Act, 1956. The

clause in Table A empowers the Petitioner Company to reduce its share capital in any manner by passing Special Resolution. 3.

The Counsel for the Petitioner Company further states that the shareholders of the Petitioner Company at its Extra Ordinary General Meeting held on6 June 2016, the existing Issued, Subscribed & Paid-up Equity share capital of John Deere India Private Limited, the Petitioner Company comprising of Rs. 2,783,573,530 (Two Hundred Seventy Eight Crore Thirty Five Lacs Seventy Three Thousand Five Hundred and Thirty only) divided into 278,357,353 (Twenty Seven Crore Eighty Three Lacs Fifty Seven Thousand Three Hundred and Fifty Three) Equity Shares of Rs. 10 each fully paid up shall be reduced by cancelling 55,000,000 (Five Crores and Fifty Lakh only) Equity Shares of Rs.10 each, fully paid up and without making any payment .

4.

Counsel appearing on behalf of the Petitioner Company states that the Petitioner has 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 also undertakes to comply with statutory requirements, if any, as required under the Companies Act, 1956 or the Companies Act, 2013, as applicable, and the Rules made thereunder.

5.

No objector has come forward to oppose the proposed reduction. Since the requisite statutory procedure has been fulfilled, the Company Scheme Petition is made absolute in terms of prayer clauses (a) and (b). 6.

Filing and issue of drawn up order is dispensed with. 7.

All concerned parties to act on ordinary copy of order and the form of minutes annexed as Exhibit - "I" to the Petition, duly authenticated by the Company Registrar, High Court, Bombay.

8.

Petitioner to publish notices in the same newspapers i.e., „Indian Express‟ in English language and „Loksatta‟ in Marathi language, both having circulation in Pune about registration of Order and minutes of reduction by

the concerned Registrar of Companies, Maharashtra. Publication in Maharashtra Government Gazette is dispensed with. (S.C Gupte, J.) CERTIFICATE I certify that this Order uploaded is a true and correct copy of original signed order.

Uploaded by: Shankar Gawde, Stenographer