Sarvin Capital Pvt. Ltd. v. -
IN THE HIGH COURT OF JUDICATURE AT BOMBAY.
ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO. 871 OF 2016
IN THE MATTER OF THE COMPANIES
ACT, 1956 AND
IN THE MATTER OF SECTIONS 100 &
101 OF THE COMPANIES ACT, 1956;
AND
IN THE MATTER OF REDUCTION OF
SHARE CAPITAL OF SARVIN CAPITAL PRIVATE LIMITED SARVIN CAPITAL PRIVATE LTD ) a company duly incorporated under ) the Companies Act, 1956 and having ) its registered office at 301, Shubham ) N S. Road No .7 ) JVPD Scheme, Juhu, Mumbai 400 049 ) .....APPLICANT
Called Summons for Direction Ms. Meena Shah i/b Pandya & Co, Advocate for the Applicant CORAM: A.K. MENON J.
DATE : 27th OCTOBER, 2016 MINUTES OF ORDER UPON the Application of the abovenamed Applicant Company by a Summons for Direction dated 12th August 2016 AND UPON HEARING MS. MEENA SHAH i/b PANDYA & CO, Advocate for the Applicant Company AND UPON READING the Affidavit dated 12th August, 2016 of Mr. Purshottam P. Nopany, the Director of the Applicant Company in support of the Summons for Direction and article 64 of the Articles of Association of the Applicant Company empowers the Applicant Company to reduce its share capital and Applicant Company having passed special resolution in its Extra Ordinary General Meeting of its equity shareholders held on 8th August 2016, being Exhibit 'G' to the Company Summons for Direction, inter alia approved that the Issued and the Subscribed equity share capital of the Company Rs. 3,00,00,000/-
(Rupees Three Crore Only) divided into 30,00,000 equity shares of Rs. 10/- , shall be reduced by 29,00,000 equity shares of the face value of Rs.10/- amounting to Rs. 2,90,00,000/-, the amount by which equity capital is so reduced being in excess of want of company and that such reduction be effected by cancelling and extinguishing 29,00,000 equity shares of the face value of Rs.10/- amounting to Rs. 2,90,00,000/- by repaying to the holders of the equity shares a sum of Rs.10/- per share AND in view of the averment made in paragraphs 8 of the Summons for Direction that the Applicant Company have no Secured or Unsecured Creditors. The procedure prescribed under section 101(2) of Companies Act ,1956 be dispensed with.
( A.K. MENON J.) CERTIFICATE I certify that this Order uploaded is a true and correct copy of original signed Order . Uploaded by Shankar Gawde, Stenographer