https://www.taxtmi.com/caselaws?id=110378 The court held that in the present case, compliance with the procedural requirements under sub-section (2) of section 101 of the Companies Act, 1956 was not necessary as the reduction in share capital did not involve diminution of liability or payment to shareholders, and creditors' interests were not likely to be affected. The court directed future applications for share capital reduction to include details on creditors' interests for the court to assess the need for procedural compliance. The application was granted with these instructions. en-us Thu, 10 Feb 2005 00:00:00 +0530 Mon, 16 Apr 2012 15:06:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110378 The court held that in the present case, compliance with the procedural requirements under sub-section (2) of section 101 of the Companies Act, 1956 was not necessary as the reduction in share capital did not involve diminution of liability or payment to shareholders, and creditors' interests were not likely to be affected. The court directed future applications for share capital reduction to include details on creditors' interests for the court to assess the need for procedural compliance. The application was granted with these instructions. Case-Laws Companies Law Thu, 10 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110378