https://www.taxtmi.com/caselaws?id=102738 The High Court of Madras confirmed the reduction of share capital from Rs. 98,18,00,000 to Rs. 50 crores for a company, involving repayment to shareholders and issuance of non-convertible debentures. The court approved the reduction and detailed mechanisms for repayment and debenture issuance, emphasizing compliance with the Companies Act, 1956. The court ordered delivery of a certified copy to the Registrar of Companies within 21 days and publication in 'Economic Times' within 14 days. The resolution's adherence to legal provisions and shareholder protection was crucial for the court's confirmation of the reduction. en-us Mon, 24 Apr 1995 00:00:00 +0530 Wed, 15 Feb 2012 18:17:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102738 The High Court of Madras confirmed the reduction of share capital from Rs. 98,18,00,000 to Rs. 50 crores for a company, involving repayment to shareholders and issuance of non-convertible debentures. The court approved the reduction and detailed mechanisms for repayment and debenture issuance, emphasizing compliance with the Companies Act, 1956. The court ordered delivery of a certified copy to the Registrar of Companies within 21 days and publication in 'Economic Times' within 14 days. The resolution's adherence to legal provisions and shareholder protection was crucial for the court's confirmation of the reduction. Case-Laws Companies Law Mon, 24 Apr 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102738