Function Space Labs Pvt Ltd v. --
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO 918 OF 2016 In the matter of Companies Act, 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 Function Space Labs Private Limited Function Space Labs Private Limited, ) a company incorporated under the ) provisions of Companies Act, 1956, ) having its registered office at 3-4 ) Aishwarya Sankul, S. No. 17, G.A.
) Kulkarni Path, Opposite Joshi ) Railway Museum, Kothrud, Pune - ) 411038.
)....Applicant Called : Summons for Direction Mr. Hemant Sethi, i/b Hemant Sethi & Co. Advocates for Applicant CORAM: S.C. GUPTE , J DATE: 2ND DECEMBER 2016 MINUTES OF THE ORDER
UPON the Application of above named Company by a Summons for Directions AND UPON HEARING Mr. Hemant Sethi, i/b Hemant Sethi & Co. Advocates for the Applicant Company AND UPON reading the Affidavit dated 23rd day of September , 2016 of Mr. Sandeep Shiamsunder Singhal, Director, of the Applicant Company AND Article 44 and 75 of the Articles of Association of the Applicant Company which empowers the Applicant Company to reduce its equity shares in any manner AND the Applicant Company having passed a Special Resolution with requisite majority at its Extra Ordinary General Meeting held on 20th July, 2016 that the Company's issued, subscribed and paid up equity share capital of Rs.68,010/- (consisting of 6,801 equity shares of Rs. 10/- each fully paid up be reduced to Rs.
40/- (consisting of 4 issued, subscribed and paid-up equity shares of Rs. 10/- each fully paid up) and that such reduction be effected by canceling and extinguishing 6,797 issued, subscribed and paid up equity shares of Rs. 10/- each fully paid up which are held by Investor Shareholders (as defined in the Articles of Association), for cash consideration of Rs. 4,83,94,640/- at a price of Rs.
Company. The procedure prescribed under Section 101(2) of the Companies Act, 1956 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.