https://www.taxtmi.com/caselaws?id=109257 Capital reduction through the securities premium account to write off accumulated losses is permissible where shareholders approve it by the requisite majority, creditors consent, and the proposal neither reduces unpaid capital liability nor prejudices creditors or public policy. Procedural requirements may be dispensed with where notice has been issued and published, no stakeholder objects, and unsecured creditors provide written consent. The restructuring must remain fair, reasonable, and within the statutory framework, allowing the company to proceed with the sanctioned reduction in accordance with law. en-us Thu, 06 May 2004 00:00:00 +0530 Sat, 07 Apr 2012 10:23:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109257 Capital reduction through the securities premium account to write off accumulated losses is permissible where shareholders approve it by the requisite majority, creditors consent, and the proposal neither reduces unpaid capital liability nor prejudices creditors or public policy. Procedural requirements may be dispensed with where notice has been issued and published, no stakeholder objects, and unsecured creditors provide written consent. The restructuring must remain fair, reasonable, and within the statutory framework, allowing the company to proceed with the sanctioned reduction in accordance with law. Case-Laws Companies Law Thu, 06 May 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109257