https://www.taxtmi.com/caselaws?id=259364 A reduction of share capital by setting off accumulated losses may be confirmed where it is authorised by the company's articles, supported by a special resolution, and shown not to prejudice creditors. On the materials presented, the proposal involved no cash outflow or diminution of unpaid share capital, secured creditor consent was obtained, and no objection was raised by the Regional Director. The Court therefore approved the reduction, sanctioned the form of minute, and allowed the consequential alteration of the share capital entries and related filing and publication directions. en-us Mon, 30 Mar 2015 00:00:00 +0530 Wed, 29 Apr 2015 14:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259364 A reduction of share capital by setting off accumulated losses may be confirmed where it is authorised by the company's articles, supported by a special resolution, and shown not to prejudice creditors. On the materials presented, the proposal involved no cash outflow or diminution of unpaid share capital, secured creditor consent was obtained, and no objection was raised by the Regional Director. The Court therefore approved the reduction, sanctioned the form of minute, and allowed the consequential alteration of the share capital entries and related filing and publication directions. Case-Laws Companies Law Mon, 30 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259364