https://www.taxtmi.com/caselaws?id=366141 The Appellate Tribunal overturned the National Company Law Tribunal's rejection of an application under Section 230 of the Companies Act, 2013 for reduction of Share Capital, emphasizing that Section 66 does not apply to share capital reduction under Section 230. The Appellate Tribunal highlighted the need to follow the correct provisions of the Companies Act, 2013 and remitted the case for a decision under Section 230, without imposing costs. Previous High Court decisions under the Companies Act, 1956 were referenced but deemed unnecessary due to the 'Explanation' below Section 230. en-us Mon, 16 Jul 2018 00:00:00 +0530 Thu, 30 Aug 2018 07:05:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366141 The Appellate Tribunal overturned the National Company Law Tribunal's rejection of an application under Section 230 of the Companies Act, 2013 for reduction of Share Capital, emphasizing that Section 66 does not apply to share capital reduction under Section 230. The Appellate Tribunal highlighted the need to follow the correct provisions of the Companies Act, 2013 and remitted the case for a decision under Section 230, without imposing costs. Previous High Court decisions under the Companies Act, 1956 were referenced but deemed unnecessary due to the 'Explanation' below Section 230. Case-Laws Companies Law Mon, 16 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366141