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of <h1>Section 102 Empowers Tribunal to Approve Company Share Capital Reduction, Ensures Creditor Protection and Public Transparency</h1> Section 102 of the Companies Act, 1956, outlines the Tribunal's authority to confirm a company's reduction of share capital. The Tribunal must ensure that all creditors entitled to object have either consented, been compensated, or secured. Upon satisfaction, the Tribunal can confirm the reduction with specific terms. It may also require the company to append 'and reduced' to its name for a designated period and mandate public disclosure of the reduction's reasons. These measures aim to ensure transparency and protect creditor interests during the capital reduction process.
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