JK PAPER LIMITED Vs. STATE OF GUJARAT

JUDGEMENT

(1.) THE present petition is for sanctioning the reduction of the share capital vide Resolution dated 17. 3. 2007 at the Special General Meeting of the Shareholders of the Company.

(2.) IT may be recorded that vide order dated 10. 5. 2007 passed by this Court (Coram: M. R. Shah, J.) in Company Application No. 225 of 2007 it was observed that no procedure under Section 101 (2) of the Companies Act (hereinafter referred to as ?the Act?) as regards the creditor would be required to be followed. The aforesaid order was an ex-parte order.

(3.) IN the present petition on 10. 5. 2007 while admitting the petition, notice was ordered to be issued by paper publication in Indian Express (English daily) and Sandesh (Gujarati daily), both Ahmedabad editions and the publication in the Government Gazette was dispensed with.