https://www.taxtmi.com/caselaws?id=109110 The court rejected the petitioner company's application to adjust the share premium against a permanent loss in investment, emphasizing that such adjustment must be authorized by law and the company's Articles of Association. The court held that the application did not comply with the Companies Act, 1956, and the petitioner was not entitled to the requested order, ultimately rejecting the petition. en-us Tue, 27 Apr 2004 00:00:00 +0530 Thu, 05 Apr 2012 18:39:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109110 The court rejected the petitioner company's application to adjust the share premium against a permanent loss in investment, emphasizing that such adjustment must be authorized by law and the company's Articles of Association. The court held that the application did not comply with the Companies Act, 1956, and the petitioner was not entitled to the requested order, ultimately rejecting the petition. Case-Laws Companies Law Tue, 27 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109110