https://www.taxtmi.com/caselaws?id=274288 The tribunal confirmed the reduction of share capital of the Applicant Company from Rs. 1,07,68,090/- to Rs. 43,48,470/- by canceling 6,41,962 equity shares held by non-promoter shareholders and paying Rs. 107 per canceled share. The tribunal found that objections raised by shareholders regarding the valuation method were devoid of merit, allowing the application for reduction of share capital under Section 66(1) of the Companies Act, 2013. The special resolution for the reduction was confirmed, and necessary alterations to the Memorandum of Association were ordered to be filed with the ROC within thirty days. en-us Wed, 04 Oct 2017 00:00:00 +0530 Sun, 05 Aug 2018 20:29:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274288 The tribunal confirmed the reduction of share capital of the Applicant Company from Rs. 1,07,68,090/- to Rs. 43,48,470/- by canceling 6,41,962 equity shares held by non-promoter shareholders and paying Rs. 107 per canceled share. The tribunal found that objections raised by shareholders regarding the valuation method were devoid of merit, allowing the application for reduction of share capital under Section 66(1) of the Companies Act, 2013. The special resolution for the reduction was confirmed, and necessary alterations to the Memorandum of Association were ordered to be filed with the ROC within thirty days. Case-Laws Companies Law Wed, 04 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274288