https://www.taxtmi.com/caselaws?id=110709 The High Court of Allahabad confirmed the reduction of the petitioner company's equity share capital by 10% under section 101 of the Companies Act, 1956. The reduction, approved by shareholders through a special resolution, was necessitated by cash losses and debt restructuring requirements. The court found no objections to the reduction and accepted explanations regarding creditor approval and the increase in the promoter's stake. The petitioner was instructed to file the order with the Registrar of Companies and publish a notice in newspapers to ensure transparency. en-us Tue, 17 Jan 2006 00:00:00 +0530 Mon, 23 Apr 2012 18:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110709 The High Court of Allahabad confirmed the reduction of the petitioner company's equity share capital by 10% under section 101 of the Companies Act, 1956. The reduction, approved by shareholders through a special resolution, was necessitated by cash losses and debt restructuring requirements. The court found no objections to the reduction and accepted explanations regarding creditor approval and the increase in the promoter's stake. The petitioner was instructed to file the order with the Registrar of Companies and publish a notice in newspapers to ensure transparency. Case-Laws Companies Law Tue, 17 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110709