https://www.taxtmi.com/caselaws?id=389595 A company may consolidate equity share capital under Section 61(1)(b) where its articles contain the enabling power, the proposal is approved through the required corporate process, and fractional entitlements are protected through a trustee mechanism. Objections based on alleged prejudice to minority shareholders did not justify refusal because the record showed substantial shareholder approval, diminishing opposition after share transfers, and due compliance with the Companies Act and SEBI framework. The material did not establish any legal impediment to the consolidation, so the challenge to the proposal failed and the consolidation was permitted. en-us Wed, 11 Dec 2019 00:00:00 +0530 Thu, 07 May 2020 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389595 A company may consolidate equity share capital under Section 61(1)(b) where its articles contain the enabling power, the proposal is approved through the required corporate process, and fractional entitlements are protected through a trustee mechanism. Objections based on alleged prejudice to minority shareholders did not justify refusal because the record showed substantial shareholder approval, diminishing opposition after share transfers, and due compliance with the Companies Act and SEBI framework. The material did not establish any legal impediment to the consolidation, so the challenge to the proposal failed and the consolidation was permitted. Case-Laws Companies Law Wed, 11 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389595