https://www.taxtmi.com/caselaws?id=408587 The Tribunal confirmed the reduction of share capital as proposed by the special resolution passed at the Extraordinary General Meeting. The capital was reduced from Rs. 25,75,00,000 to Rs. 2,57,50,000 by decreasing the face value of equity shares from Rs. 10 to Rs. 1 each. The Company complied with all statutory requirements, and the reduction was deemed beneficial for the Company, its shareholders, and creditors. The Statutory Auditors certified that the proposed accounting treatment was in conformity with applicable standards. The petition was disposed of with no order as to costs. en-us Thu, 18 Mar 2021 00:00:00 +0530 Wed, 16 Jun 2021 10:35:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408587 The Tribunal confirmed the reduction of share capital as proposed by the special resolution passed at the Extraordinary General Meeting. The capital was reduced from Rs. 25,75,00,000 to Rs. 2,57,50,000 by decreasing the face value of equity shares from Rs. 10 to Rs. 1 each. The Company complied with all statutory requirements, and the reduction was deemed beneficial for the Company, its shareholders, and creditors. The Statutory Auditors certified that the proposed accounting treatment was in conformity with applicable standards. The petition was disposed of with no order as to costs. Case-Laws Companies Law Thu, 18 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408587