https://www.taxtmi.com/article/detailed?id=7191 Reduction of share capital is effected by special resolution but requires Tribunal confirmation under prescribed rules: filing Form RSC-1 with a certified class-wise creditor list, auditor certificates validating the creditor list and the accounting treatment's conformity with accounting standards, and a director's declaration on deposit arrears. The Tribunal directs notice to the Registrar, relevant securities regulator for listed companies, and creditors, may require advertisement and may dispense with notice where debts are discharged or secured. The Tribunal confirms the reduction only when creditor claims are addressed and auditor certification is filed, after which the order and approved minute must be registered with the Registrar. en-us Mon, 09 Jan 2017 08:21:22 +0530 Mon, 09 Jan 2017 08:21:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7191 Reduction of share capital is effected by special resolution but requires Tribunal confirmation under prescribed rules: filing Form RSC-1 with a certified class-wise creditor list, auditor certificates validating the creditor list and the accounting treatment's conformity with accounting standards, and a director's declaration on deposit arrears. The Tribunal directs notice to the Registrar, relevant securities regulator for listed companies, and creditors, may require advertisement and may dispense with notice where debts are discharged or secured. The Tribunal confirms the reduction only when creditor claims are addressed and auditor certification is filed, after which the order and approved minute must be registered with the Registrar. Articles Corporate Laws / IBC / SEBI Mon, 09 Jan 2017 08:21:22 +0530 https://www.taxtmi.com/article/detailed?id=7191