Reduction of company share capital requires RSC-1 filing, creditor notices, auditor certificates, publication and Tribunal confirmation. An application in Form RSC-1 with fee must accompany a certified creditors' list and auditor certificates confirming the list, non-arrear status on deposits, and accounting conformity; the Tribunal will direct notices to the Government, Registrar, securities regulator (if listed), and creditors, require publication and inspection of the creditors' list, allow three months for representations or objections, and may give directions to secure non-consenting creditors' claims; confirmation, terms, and the approved minute are recorded in Form RSC-6 and registered by the Registrar who issues Form RSC-7.
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Provisions expressly mentioned in the judgment/order text.
Reduction of company share capital requires RSC-1 filing, creditor notices, auditor certificates, publication and Tribunal confirmation.
An application in Form RSC-1 with fee must accompany a certified creditors' list and auditor certificates confirming the list, non-arrear status on deposits, and accounting conformity; the Tribunal will direct notices to the Government, Registrar, securities regulator (if listed), and creditors, require publication and inspection of the creditors' list, allow three months for representations or objections, and may give directions to secure non-consenting creditors' claims; confirmation, terms, and the approved minute are recorded in Form RSC-6 and registered by the Registrar who issues Form RSC-7.
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