https://www.taxtmi.com/caselaws?id=113459 The Court found the reduction of equity share capital to be fair, equitable, and compliant with the Companies Act, 1956. The special resolution passed by an overwhelming majority of shareholders was sanctioned, allowing the Petitioner Company to pay non-promoter shareholders Rs. 425 per share. Objections regarding voting procedures and share valuation were dismissed as lacking merit. The Court approved the Company Scheme Petition as per the prayer clauses (a) and (b), emphasizing the fairness and legality of the reduction. en-us Mon, 07 Jun 2010 00:00:00 +0530 Mon, 06 Oct 2014 12:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113459 The Court found the reduction of equity share capital to be fair, equitable, and compliant with the Companies Act, 1956. The special resolution passed by an overwhelming majority of shareholders was sanctioned, allowing the Petitioner Company to pay non-promoter shareholders Rs. 425 per share. Objections regarding voting procedures and share valuation were dismissed as lacking merit. The Court approved the Company Scheme Petition as per the prayer clauses (a) and (b), emphasizing the fairness and legality of the reduction. Case-Laws Companies Law Mon, 07 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113459