https://www.taxtmi.com/caselaws?id=398731 A petition for reduction of share capital was considered where objections concerned the proposed payout, protection of creditors and stakeholders, and tax implications. The company addressed those concerns through affidavits and supplementary compliance, showing sufficient funds to meet the consideration payable and undertaking to protect creditors, stakeholders, and Government revenue while complying with tax and statutory requirements. The Tribunal found that the statutory procedure had been completed and that no remaining impediment justified of relief. The proposed reduction was sanctioned. en-us Mon, 21 Sep 2020 00:00:00 +0530 Wed, 23 Sep 2020 10:05:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398731 A petition for reduction of share capital was considered where objections concerned the proposed payout, protection of creditors and stakeholders, and tax implications. The company addressed those concerns through affidavits and supplementary compliance, showing sufficient funds to meet the consideration payable and undertaking to protect creditors, stakeholders, and Government revenue while complying with tax and statutory requirements. The Tribunal found that the statutory procedure had been completed and that no remaining impediment justified of relief. The proposed reduction was sanctioned. Case-Laws Companies Law Mon, 21 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398731