https://www.taxtmi.com/caselaws?id=217891 The court allowed the petition for reduction of equity share capital under Sections 100 and 101 of the Companies Act, 1956. The company followed the prescribed procedures, obtained shareholder approval, and provided necessary documents including consent letters from creditors and a Chartered Accountant's certificate. As there was no adverse impact on creditors, the court waived the need to follow Section 101(2) procedure. The court sanctioned the reduction of share capital, directing publication in specified newspapers and ordering the company to pay fees to the Central Government Standing Counsel. en-us Wed, 12 Sep 2012 00:00:00 +0530 Mon, 29 Oct 2012 10:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217891 The court allowed the petition for reduction of equity share capital under Sections 100 and 101 of the Companies Act, 1956. The company followed the prescribed procedures, obtained shareholder approval, and provided necessary documents including consent letters from creditors and a Chartered Accountant's certificate. As there was no adverse impact on creditors, the court waived the need to follow Section 101(2) procedure. The court sanctioned the reduction of share capital, directing publication in specified newspapers and ordering the company to pay fees to the Central Government Standing Counsel. Case-Laws Companies Law Wed, 12 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217891