https://www.taxtmi.com/caselaws?id=111285 Reduction of share capital may be confirmed where it is authorised by the articles of association, approved by shareholders through a special resolution, and creditor interests are protected. Where no secured creditors exist and unsecured creditors consent, a reduction intended to write off accumulated losses and align paid-up capital with available assets may satisfy the statutory conditions, provided it does not diminish liability for unpaid share capital or involve payment to shareholders. For listed companies, investor protection may justify requiring the temporary use of the words "and reduced" in the company name; this may be preferred to separate publication of the reasons for reduction. en-us Tue, 10 Jul 2007 00:00:00 +0530 Sat, 21 Apr 2012 16:38:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111285 Reduction of share capital may be confirmed where it is authorised by the articles of association, approved by shareholders through a special resolution, and creditor interests are protected. Where no secured creditors exist and unsecured creditors consent, a reduction intended to write off accumulated losses and align paid-up capital with available assets may satisfy the statutory conditions, provided it does not diminish liability for unpaid share capital or involve payment to shareholders. For listed companies, investor protection may justify requiring the temporary use of the words "and reduced" in the company name; this may be preferred to separate publication of the reasons for reduction. Case-Laws Companies Law Tue, 10 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111285