https://www.taxtmi.com/caselaws?id=111285 Reduction of share capital may be confirmed where it is authorised by the articles, approved by special resolution, and creditor interests are protected through consent or absence of objection. The reduction here was intended to write off accumulated losses and align paid-up capital with available assets, without diminishing liability for unpaid share capital or making payments to shareholders, so the statutory conditions were treated as satisfied. Where public interest required market notice in a listed company, the court also considered it appropriate to direct temporary addition of the words "and reduced" to the company's name, rather than insist on separate publication of reasons. 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, approved by special resolution, and creditor interests are protected through consent or absence of objection. The reduction here was intended to write off accumulated losses and align paid-up capital with available assets, without diminishing liability for unpaid share capital or making payments to shareholders, so the statutory conditions were treated as satisfied. Where public interest required market notice in a listed company, the court also considered it appropriate to direct temporary addition of the words "and reduced" to the company's name, rather than insist on separate publication of reasons. Case-Laws Companies Law Tue, 10 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111285