UPON the Application of abovenamed Company by a summons dated 4th day of February 2014 AND UPON HEARING Mr. Hemant Sethi, i/b Hemant Sethi & Co. Advocates for Applicant Company AND UPON reading the Affidavit of Mr. Sudhir Shah, Director of the Applicant Company AND Applicant having passed Special Resolution with requisite majority at its Extraordinary General Meeting held on 25th January 2014, the reduction of existing paid up Equity share capital of the Applicant Company from Rs. 20,00,000 divided into 20,000 Equity Shares of Rs. 100/- each fully paid up to Rs. 1,00,000 divided into 1,000 Equity Shares of Rs. 100/- each fully paid up and that such reduction is effected by returning capital to the equity shareholders at Rs 100/- per Equity Shares of Rs. 100/- each so cancelled and extinguished, and shareholders shall be those whose names appear in the register of members of the Company as on the date on which the said reduction is made effective AND in view of the averments made in paragraph fifteen and sixteen of the Affidavit in support of Company Summons for Direction, inter-alia stating that the Applicant Company does not have any Secured Creditors and that the proposed reduction would not in any way adversely affect the interests of any of the Applicant Company’s Unsecured Creditors or the ordinary operations of the Applicant Company or the ability of the Applicant Company to honour its debts in the ordinary course of business. Further, no compromise or arrangement is called for with any of the creditors of the Applicant Company as there is no reduction in the amount payable to any of
