https://www.taxtmi.com/caselaws?id=109495 The court allowed the petition, granting approval and sanction for the redemption of preference shares (Series M and N) and the reduction of share capital by Rs. 27,50,00,000. The court held that redemption of preference shares can be done under Section 100 of the Companies Act, in addition to Section 80, as long as the necessary procedures are followed, such as obtaining shareholder consent and passing a special resolution. en-us Tue, 18 Nov 2003 00:00:00 +0530 Tue, 10 Apr 2012 14:59:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109495 The court allowed the petition, granting approval and sanction for the redemption of preference shares (Series M and N) and the reduction of share capital by Rs. 27,50,00,000. The court held that redemption of preference shares can be done under Section 100 of the Companies Act, in addition to Section 80, as long as the necessary procedures are followed, such as obtaining shareholder consent and passing a special resolution. Case-Laws Companies Law Tue, 18 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109495