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1. The Petitioner has approached this Court to sanction the modified and amended scheme of compromise/arrangement as amended between Sharp Industries Limited the Petitioner Company and its secured, unsecured, statutory creditors and equity shareholders. It is also prayed that the reduction of the equity share capital in terms of the modified and amended scheme as approved by the special resolution passed by the equity shareholders of the Petitioner Company in their meeting held on 1st June 2005 be confirmed, and that, the order sanctioning the modified and amended scheme of compromise/arrangement be deemed to be an order confirming reduction in capital within the meaning of Section 102 of the Companies Act, 1956.