https://www.taxtmi.com/acts?id=12392 A company that resolves to reduce share capital may petition the Tribunal for confirmation; where the reduction diminishes unpaid liability or entails payments to shareholders the Tribunal will allow creditors who would be admissible in a winding-up to object and will settle a list of such creditors by inquiry and notice. The Tribunal may dispense with a non-consenting creditor's consent if the company secures payment by appropriating an amount-either the full admitted amount or an amount fixed by the Tribunal after inquiry analogous to winding-up proceedings-and may exempt specified creditor classes in special circumstances. en-us Sat, 07 May 2011 16:58:52 +0530 Sat, 07 May 2011 16:58:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12392 A company that resolves to reduce share capital may petition the Tribunal for confirmation; where the reduction diminishes unpaid liability or entails payments to shareholders the Tribunal will allow creditors who would be admissible in a winding-up to object and will settle a list of such creditors by inquiry and notice. The Tribunal may dispense with a non-consenting creditor's consent if the company secures payment by appropriating an amount-either the full admitted amount or an amount fixed by the Tribunal after inquiry analogous to winding-up proceedings-and may exempt specified creditor classes in special circumstances. Act-Rules Companies Law Sat, 07 May 2011 16:58:52 +0530 https://www.taxtmi.com/acts?id=12392