https://www.taxtmi.com/caselaws?id=112256 The court confirmed the reduction of share capital for Prakash Industries Limited, allowing the utilization of the securities premium account to meet deferred tax liability. The company was granted dispensation from procedural requirements under Section 101(2) of the Companies Act, 1956, as the reduction did not impact unpaid capital or shareholders. The court approved the reduction, citing precedents from other High Courts. The petitioner was directed to comply with specified procedures for registration and publication following the court's decision. en-us Thu, 23 Aug 2007 00:00:00 +0530 Mon, 29 Dec 2014 19:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112256 The court confirmed the reduction of share capital for Prakash Industries Limited, allowing the utilization of the securities premium account to meet deferred tax liability. The company was granted dispensation from procedural requirements under Section 101(2) of the Companies Act, 1956, as the reduction did not impact unpaid capital or shareholders. The court approved the reduction, citing precedents from other High Courts. The petitioner was directed to comply with specified procedures for registration and publication following the court's decision. Case-Laws Companies Law Thu, 23 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112256