Reduction of share capital requires special resolution and Tribunal confirmation with creditor and auditor safeguards in the filing. Reduction of share capital under section 66 requires Tribunal confirmation of a special resolution and filing of prescribed particulars including company and capital details, the resolution and voting particulars, and the proposed minute. The petition must state whether unpaid or lost paid-up capital is affected and be supported by financial disclosures and creditor safeguards such as a list of creditors, auditor certificates, and a deposits declaration.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Reduction of share capital requires special resolution and Tribunal confirmation with creditor and auditor safeguards in the filing.
Reduction of share capital under section 66 requires Tribunal confirmation of a special resolution and filing of prescribed particulars including company and capital details, the resolution and voting particulars, and the proposed minute. The petition must state whether unpaid or lost paid-up capital is affected and be supported by financial disclosures and creditor safeguards such as a list of creditors, auditor certificates, and a deposits declaration.
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