https://www.taxtmi.com/caselaws?id=408791 The NCLT approved the petitioner-company's proposal to reduce its paid-up equity share capital from INR 1,00,000 to INR 76,000, cancelling 240 shares. The reduction complied with Section 66 of the Companies Act, 2013, and was unanimously consented to by shareholders. The tribunal found the reduction just and equitable, with no adverse impact on creditors, ensuring the company's ability to meet obligations. The decision was supported by legal precedents, and the form of the minute was registered under Section 66(5), reflecting the new share capital structure. en-us Thu, 03 Dec 2020 00:00:00 +0530 Sat, 26 Oct 2024 16:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408791 The NCLT approved the petitioner-company's proposal to reduce its paid-up equity share capital from INR 1,00,000 to INR 76,000, cancelling 240 shares. The reduction complied with Section 66 of the Companies Act, 2013, and was unanimously consented to by shareholders. The tribunal found the reduction just and equitable, with no adverse impact on creditors, ensuring the company's ability to meet obligations. The decision was supported by legal precedents, and the form of the minute was registered under Section 66(5), reflecting the new share capital structure. Case-Laws Companies Law Thu, 03 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408791