Triton Maritime Pvt Ltd v. --
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO. 1032 OF 2016
IN THE MATTER of the Companies Act,
AND
IN THE MATTER Of
Triton Maritime Private Limited AND
IN THE MATTER of Sections 100 to 104 of
the Companies Act, 1956 AND
IN THE MATTER of the Reduction of
Preference Share Capital of Triton Maritime Private Limited.
Triton Maritime Private Limited, ) a company incorporated under the ) Companies Act, 1956 and having its ) Registered office at Anchorage, CTS- ) 275/B Village Deonar, Near Amarnath ) Patil Ground, Off. Govandi Station Rd, ) Govandi (E) Mumbai-400088 ) ..Applicant Company Called Summons for Direction Dr. Birendra Saraf i/b M/s Federal & Rashmikant, Advocates for the Applicant
Company.
CORAM: S. C. Gupte, J.
DATE: 15th DECEMBER, 2016 MINUTES OF ORDER UPON THE APPLICATION of the above named Applicant Company by a Company Summons for Direction AND UPON HEARING Dr. Birendra Saraf i/b M/s Federal & Rashmikant, Advocates for the Applicant Company AND UPON READING the Affidavit of Mr.
Harsh Jaysinh Parekh, Director of the Applicant Company dated 9th December 2016 in support of Company Summons for Direction AND Article 6 of the Articles of Association of the Applicant Company that empowers the Applicant Company to reduce its share capital from time to time in any manner with and subject to the authorization and consent required by law AND the Applicant Company having passed Special Resolution with unanimous consent at its Extraordinary General Meeting held on 29th November, 2016 being Exhibit-F to the Affidavit in Support of Company Summons for Direction, approving the reduction of the issued, subscribed and paid-up share capital of the Company from Rs.
46,51,98,400/- (Rupees Forty Six Crores Fifty One Lakhs Ninety Eight Thousand and Four Hundred only) divided into 8,98,400 (Eight Lakh Ninety Eight Thousand and Four Hundred) Equity Shares at Re. 1/- (Rupee One Only) each and 46,43,00,000 (Forty Six Crores and Forty Three Lakhs) Non-Cumulative Redeemable Preference Shares of Re.
1/- (Rupee One Only) each to Rs. 8,98,400/-( Rupees Eight Lakh Ninety Eight Thousand and Four Hundred Only) divided into 8,98,400 (Eight Lakh Ninety Eight Thousand and Four Hundred) Equity Shares at Re. 1/- (Rupee One Only) each which reduction shall be effected by way of, (a) extinguishment and cancellation of 46,43,00,000 (Forty Six Crores and Forty Three Lakhs) Non-Cumulative Redeemable fully paid up Preference Shares of Re. 1/- (Rupee One Only) each held by Seabird Marine Services Private Limited, which were issued at par and having an aggregate paid up value of Rs.
aforesaid Seabird Marine Services Private Limited and the proposed capital reduction does not involve either the diminution of any liability in respect of unpaid capital or the payment to any shareholder of any paid-up capital AND IN VIEW OF THE ABOVE, the provisions of and the procedure prescribed under Section 101(2) of the Companies Act, 1956 is not applicable and the same is hereby dispensed with along with publication of the notice of hearing of the Petition in the Maharashtra Government Gazette and newspapers and the formality of words "And Reduced" while describing the capital structure of Applicant Company while confirming the proposed reduction of preference capital is also 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