https://www.taxtmi.com/caselaws?id=109276 The HC set aside the initial dismissal by the Company Judge and allowed the appeal in Company Petition No. 169 of 2003. The court confirmed the adjustment of the share premium against the permanent loss in investment in NMCL, finding no legal infirmity. The Special Resolution complied with the Articles of Association and the Companies Act, 1956, ensuring no prejudice to shareholders or creditors. No objections were raised, and the court concluded that the resolution did not adversely affect public interest. The appellant's request to utilize up to Rs. 115.30 lakhs from the Share Premium Account was approved. en-us Wed, 21 Jul 2004 00:00:00 +0530 Wed, 12 Jun 2024 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109276 The HC set aside the initial dismissal by the Company Judge and allowed the appeal in Company Petition No. 169 of 2003. The court confirmed the adjustment of the share premium against the permanent loss in investment in NMCL, finding no legal infirmity. The Special Resolution complied with the Articles of Association and the Companies Act, 1956, ensuring no prejudice to shareholders or creditors. No objections were raised, and the court concluded that the resolution did not adversely affect public interest. The appellant's request to utilize up to Rs. 115.30 lakhs from the Share Premium Account was approved. Case-Laws Companies Law Wed, 21 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109276