https://www.taxtmi.com/caselaws?id=259449 A company's proposed reduction of paid-up share capital may be confirmed where it has not commenced business, has no secured or unsecured creditors, and the reduction is approved by the board and shareholders without prejudice to any stakeholder. In such circumstances, the Court may dispense with the procedural requirement under Section 101(2) of the Companies Act, 1956, and confirm the reduction under Section 100(1) read with the Companies (Court) Rules, 1959. The form of minutes was also approved, with consequential directions for registration and publication. en-us Thu, 26 Mar 2015 00:00:00 +0530 Mon, 11 May 2015 07:51:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259449 A company's proposed reduction of paid-up share capital may be confirmed where it has not commenced business, has no secured or unsecured creditors, and the reduction is approved by the board and shareholders without prejudice to any stakeholder. In such circumstances, the Court may dispense with the procedural requirement under Section 101(2) of the Companies Act, 1956, and confirm the reduction under Section 100(1) read with the Companies (Court) Rules, 1959. The form of minutes was also approved, with consequential directions for registration and publication. Case-Laws Companies Law Thu, 26 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259449