https://www.taxtmi.com/caselaws?id=405667 The Tribunal confirmed the reduction of equity and preference share capital of the Petitioner Company, approving the resolution passed by the Board of Directors and shareholders. The reduction aimed to address accumulated losses and was unanimously supported by all shareholders. The company assured compliance with statutory requirements, including publishing the order in local newspapers. Despite observations by the Regional Director, the company submitted an affidavit addressing concerns and liquidity constraints. The Tribunal found the procedures followed satisfactory, making the Company Petition absolute and approving the revised share structure. en-us Wed, 17 Mar 2021 00:00:00 +0530 Thu, 25 Mar 2021 09:32:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405667 The Tribunal confirmed the reduction of equity and preference share capital of the Petitioner Company, approving the resolution passed by the Board of Directors and shareholders. The reduction aimed to address accumulated losses and was unanimously supported by all shareholders. The company assured compliance with statutory requirements, including publishing the order in local newspapers. Despite observations by the Regional Director, the company submitted an affidavit addressing concerns and liquidity constraints. The Tribunal found the procedures followed satisfactory, making the Company Petition absolute and approving the revised share structure. Case-Laws Companies Law Wed, 17 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405667