( 1 ) M/s. Reckitt Benckiser (India) Ltd. was incorporated under the Indian companies Act (for short the act ) on July 5, 1951 under the name and style of Reckitt and Colman of india Ltd. This name was changed to present name with effect from December 18, 2000 vide certificate of incorporation consequent to change of name No. NCR-CN-1982. The registered office of the company is in Delhi. The present authorised share capital of the company is Rs. 35 crores. Its existing issued and paid-up share capital is Rs. 32,91, 31,880/ -. The company proposes to reduce its share capital to the extent of Rs. 6,6335,760/- constituting about 20. 15% of its issued and paid-up share capital and its reserves to the extent of about Rs. 159,20,58,240/ -. This petition is filed by the petitioner company under Sections 101-105 of the Companies act (in short the act ), inter alia, seeking reduction of this share capital.

( 2 ) IT is stated in the petition that in February, 2003 the equity shares of the company were mandatorily de-listed from the Stock exchange in accordance with Regulation 21 (3) (a) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and ta