https://www.taxtmi.com/caselaws?id=326367 The court approved the reduction of share capital from Rs. 49,00,000 to Rs. 11,28,520 for distributing excess assets. The company's power to reduce capital and shareholder approval were confirmed, dismissing concerns of tax evasion. The court approved the reduction against excess assets as per the special resolution, waived the requirement to add a suffix to the capital structure, and concluded the reduction was lawful and compliant with the Companies Act, 1956. en-us Mon, 04 Apr 2016 00:00:00 +0530 Thu, 07 Apr 2016 11:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326367 The court approved the reduction of share capital from Rs. 49,00,000 to Rs. 11,28,520 for distributing excess assets. The company's power to reduce capital and shareholder approval were confirmed, dismissing concerns of tax evasion. The court approved the reduction against excess assets as per the special resolution, waived the requirement to add a suffix to the capital structure, and concluded the reduction was lawful and compliant with the Companies Act, 1956. Case-Laws Companies Law Mon, 04 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326367