https://www.taxtmi.com/caselaws?id=104417 A company's special resolution for reduction of share capital was confirmed under the Companies Act, 1956 where partly paid shares were to be converted into a reduced number of fully paid shares and the unpaid balance cancelled, extinguishing the corresponding liability to share capital and share premium. Public notice was issued, creditors were notified, no objections were received from creditors or the public, and the resolution complied with the Act and the articles. The statutory minute required for the reduction was also placed before the Court. The reduction of share capital was therefore confirmed and the petition was allowed. en-us Wed, 11 Nov 1998 00:00:00 +0530 Wed, 29 Feb 2012 10:44:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104417 A company's special resolution for reduction of share capital was confirmed under the Companies Act, 1956 where partly paid shares were to be converted into a reduced number of fully paid shares and the unpaid balance cancelled, extinguishing the corresponding liability to share capital and share premium. Public notice was issued, creditors were notified, no objections were received from creditors or the public, and the resolution complied with the Act and the articles. The statutory minute required for the reduction was also placed before the Court. The reduction of share capital was therefore confirmed and the petition was allowed. Case-Laws Companies Law Wed, 11 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104417