https://www.taxtmi.com/caselaws?id=112193 The HC approved the reduction of share capital for the Petitioner, a public limited company, under section 101 of the Companies Act, 1956. The reduction involved canceling 8,89,169 shares and returning capital at Rs. 183 per share. Despite objections from the BSE, the court found the selective reduction legally permissible, fair, and equitable, with 99.5% shareholder approval. The court allowed the reduction while noting that Stock Exchanges could address any listing agreement violations. The Company Petition was granted in full as requested. en-us Fri, 22 Jun 2007 00:00:00 +0530 Wed, 17 Jan 2024 17:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112193 The HC approved the reduction of share capital for the Petitioner, a public limited company, under section 101 of the Companies Act, 1956. The reduction involved canceling 8,89,169 shares and returning capital at Rs. 183 per share. Despite objections from the BSE, the court found the selective reduction legally permissible, fair, and equitable, with 99.5% shareholder approval. The court allowed the reduction while noting that Stock Exchanges could address any listing agreement violations. The Company Petition was granted in full as requested. Case-Laws Companies Law Fri, 22 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112193