WARTSILA INDIA LIMITED Vs. JANAK MATHURADAS

JUDGEMENT

(1.) By this Company Petition, Wartsila India Limited ("WIL") seeks approval and confirmation by this Court in terms of the Special Resolution passed by the shareholders of WIL in its "Extraordinary General Meeting" ("EGM") held on 10th November, 2009 for the reduction of its equity share capital.

(2.) The authorized, issued, subscribed and paid-up capital of WIL as on 31st December 2008 is as under:- Particulars Amount in Rs. <p><table class = tablestyle width="44%" border="1" align="center"> <tr> <td width="63%"><font face="Verdana">AUTHORISED</font></td> <td width="37%"><div align="center"><font face="Verdana">15,000,000</font></div></td> </tr> <tr> <td><font face="Verdana">Equity Shares of Rs.10/- each</font></td> <td><div align="center"><font face="Verdana">150,000,000</font></div></td> </tr> <tr> <td><div align="center"><font face="Verdana"><strong>TOTAL</strong></font></div></td> <td><div align="center"><font face="Verdana"><strong>150,000,000</strong></font></div></td> </tr> </table>

(3.) Of the above, 98.88% of the Paid-up Equity Share Capital of WIL is held by 6 Promoter Shareholders and the balance of 1.12% of the Paid-up Equity Share Capital of WIL is held by 1463 shareholders. There has been no change in the shareholding from 31st December, 2008 till the date of filing the present Petition.