https://www.taxtmi.com/caselaws?id=407262 The Tribunal approved the reduction of share capital from Rs. 7,777,131,200 to Rs. 3,134,061,200 as requested by M/s. Tenneco Clean Air India Private Limited under Section 66(1) of the Companies Act, 2013. The company's compliance with statutory requirements, financial stability, and procedural steps were satisfactory. The Tribunal's decision was based on the excess capital not being profitably utilized. The company was directed to publish the confirmation order, make necessary filings with the Registrar of Companies, and adhere to specified procedures within 30 days. The Company Petition No. 1332 of 2019 was disposed of accordingly. en-us Tue, 20 Apr 2021 00:00:00 +0530 Wed, 05 May 2021 08:36:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407262 The Tribunal approved the reduction of share capital from Rs. 7,777,131,200 to Rs. 3,134,061,200 as requested by M/s. Tenneco Clean Air India Private Limited under Section 66(1) of the Companies Act, 2013. The company's compliance with statutory requirements, financial stability, and procedural steps were satisfactory. The Tribunal's decision was based on the excess capital not being profitably utilized. The company was directed to publish the confirmation order, make necessary filings with the Registrar of Companies, and adhere to specified procedures within 30 days. The Company Petition No. 1332 of 2019 was disposed of accordingly. Case-Laws Companies Law Tue, 20 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407262