https://www.taxtmi.com/caselaws?id=397936 The Tribunal approved the petitioner's request to consolidate equity shares by increasing the face value from Rs. 10 to Rs. 5,000 per share under section 61(1)(b) of the Companies Act, 2013. The consolidation was deemed permissible as the company adhered to the legal process and obtained necessary approvals. Objections raised by two shareholders were dismissed as they did not attend the general meeting and lacked substantial grounds for opposition. The consolidation was found to be in the best interest of shareholders, offering liquidity and a reasonable return on investment. en-us Wed, 17 Jun 2020 00:00:00 +0530 Wed, 02 Sep 2020 11:39:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397936 The Tribunal approved the petitioner's request to consolidate equity shares by increasing the face value from Rs. 10 to Rs. 5,000 per share under section 61(1)(b) of the Companies Act, 2013. The consolidation was deemed permissible as the company adhered to the legal process and obtained necessary approvals. Objections raised by two shareholders were dismissed as they did not attend the general meeting and lacked substantial grounds for opposition. The consolidation was found to be in the best interest of shareholders, offering liquidity and a reasonable return on investment. Case-Laws Companies Law Wed, 17 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397936