Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
Personal hearing requirements in GST adjudication were satisfied by prior opportunities and written submissions; appellate limitation received writ-pe...
NCLAT upheld the capital reduction scheme under Section 66 of Companies Act, 2013. The tribunal found the selective capital reduction permissible, with 99.92% shareholder approval validating the minority shareholders' compulsory exit. The E&Y valuation at Rs. 196.80 per share was deemed independent and appropriate, rejecting arguments for control premium. The tribunal confirmed no violation of Section 102, noting no mandatory requirement to attach valuation reports for capital reduction. The 25% Discount for Liquidity of Marketability was justified. Ultimately, the appeal was dismissed, validating the company's capital reduction process and protecting majority shareholder interests.
NCLAT upheld the capital reduction scheme under Section 66 of Companies Act, 2013. The tribunal found the selective capital reduction permissible, with 99.92% shareholder approval validating the minority shareholders' compulsory exit. The E&Y valuation at Rs. 196.80 per share was deemed independent and appropriate, rejecting arguments for control premium. The tribunal confirmed no violation of Section 102, noting no mandatory requirement to attach valuation reports for capital reduction. The 25% Discount for Liquidity of Marketability was justified. Ultimately, the appeal was dismissed, validating the company's capital reduction process and protecting majority shareholder interests.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
