Pitre Business Ventures Private Limited v. -

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO. 840 OF 2016. In the matter of the Companies Act I of 1956.

AND In the matter of Sections 391 to 394 and read with Section 100 to 103 of the Companies Act, 1956.

AND In the matter of the Scheme of Arrangement between:

Pitre Business Ventures Private Limited.

AND Clariance IT Solutions Private Limited.

AND their Respective Shareholders.

Pitre Business Ventures Private Limited, ) a Company incorporated Under the Companies ) Act, 1956 and having its Registered Office at ) Sushrut House, Survey No. 288, Next to ) Hinjewadi, Phase II, Next to MANN, ) Taluka Mulshi, Pune 411 057 )....Applicant Company Called Summons for Direction for hearing Mr.

Chandrakant Mhadeshwar,Advocates for the Applicant Company.

CORAM : A. K. MENON, J DATE : 27TH OCTOBER, 2016 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 14th day of September, 2016 of Mr. Varun Pitre, Director of the Applicant Company in support of Company Summons for Direction and the Exhibits referred to therein, IT IS ORDERED:- 1.

That 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 Pitre Business Ventures Private Limited and Clariance IT Solutions Private Limited and their respective shareholders, is dispensed with in view of the consent given by all the Four Equity Shareholders of the Applicant Company which are annexed as Exhibits "C-1" to "C-4" to the Affidavit in Support of Company Summons for Direction.

2.

That there are no Secured Creditors of the Applicant Company as stated in paragraph 18 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.

That convening and holding the meeting of the Unsecured Creditor 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

Pitre Business Ventures Private Limited and Clariance IT Solutions Private Limited and their respective shareholders, is dispensed with in view of the consent given by the sole Unsecured Creditors of the Applicant Company which is annexed as Exhibit "D" to the Affidavit in Support of Company Summons for Direction.

(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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