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of <h1>Companies Can Reduce Share Capital via Special Resolution, Confirmed by Tribunal, per Companies Act, 1956</h1> A company limited by shares or by guarantee with share capital may reduce its share capital through a special resolution, subject to confirmation by the Tribunal, if authorized by its articles. This reduction can involve extinguishing or reducing liability on shares for unpaid capital, canceling lost or unrepresented paid-up share capital, or paying off excess paid-up capital. The company may also alter its memorandum to reflect the reduced share capital. Such a resolution is referred to as a 'resolution for reducing share capital' under the Companies Act, 1956.
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