Shapoorji Pallonji Forbes Shipping Limited v. -
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTIONS NO 834 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 Sections 100 to 104 of the Companies Act, 1956; read with section 52 of the Companies Act, 2013 AND In the matter of reduction of equity share capital of Shapoorji Pallonji Forbes Shipping Limited SHAPOORJI PALLONJI FORBES ) ) SHIPPING LIMITED, a company ) incorporated under the Companies Act, ) 1956 and having its registered address at ) Forbes Building, Charanjit Rai Marg, ) Fort, Mumbai - 400 001.
...................Applicant ) Called Summons for Directions Mr. Hemant Sethi i/b Hemant Sethi & Co. Advocates for Applicant CORAM: A. K. Menon, J DATE: 27th October, 2016 MINUTES OF ORDER
UPON the Application of abovenamed Applicant by a summons dated 2th day of September 2016 AND UPON HEARING Mr. Hemant Sethi, i/b Hemant Sethi & Co. Advocates for Applicant AND UPON reading the Affidavit of Mr. Dhiraj Pahuja, Chief Executive Officer of the Applicant dated 02nd September 2016 AND Applicant having passed Special Resolution with requisite majority at its Extraordinary General Meeting held on 22nd day of August 2016, the existing Issued, Subscribed & Paid-up share capital of Shapoorji Pallonji Forbes Shipping Limited, the Petitioner Company, comprising of Rs. 2,83,60,00,000 (Rupees Two Hundred Eighty Three Crores and Sixty Lakhs only) divided into 16,00,00,000 (Sixteen Crores) Equity shares of Rs. 10 each and 12,36,00,000 (Twelve Crores and Thirty Six Lakhs) 0% Redeemable Preference Shares of Rs.
10 each, fully paid up shall stand reduced to Rs.2,05,60,00,000 (Two Hundred and Five Crores Sixty Lakhs only) 8,20,00,000 (Eight Crores Twenty Lakhs) Equity shares of Rs. 10 each and 12,36,00,000 (Twelve Crores and Thirty Six Lakhs) 0% Redeemable Preference Shares of Rs.10 each, fully paid up by cancelling 7,80,00,000 (Seven Crores Eighty Lakhs only) Equity shares of Rs. 10 each, fully paid up and returning capital to the Equity shareholders at Rs.0.0948718/- per Equity Share of Rs.
interests of any 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, the procedure prescribed under Section 101(2) of the Companies Act, 1956 be and is hereby dispensed with. (A. K. Menon, J) CERTIFICATE I certify that this Order uploaded is a true and correct copy of original signed order.
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