https://www.taxtmi.com/caselaws?id=414415 The Tribunal confirmed the reduction of share capital as approved by shareholders, allowing the company to offset losses and distribute excess capital. The company transitioned from the automobile business to beauty salons, prompting the capital reduction due to incurred losses. The Tribunal approved the proposed form of Minutes for registration but emphasized that any deficiencies or violations would not be exempted. Compliance with all legal obligations, including SEBI, FEMA, and Income Tax laws, was required post-confirmation. The order did not grant exemption from stamp duty, taxes, or other charges. en-us Mon, 04 Oct 2021 00:00:00 +0530 Mon, 08 Nov 2021 07:00:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414415 The Tribunal confirmed the reduction of share capital as approved by shareholders, allowing the company to offset losses and distribute excess capital. The company transitioned from the automobile business to beauty salons, prompting the capital reduction due to incurred losses. The Tribunal approved the proposed form of Minutes for registration but emphasized that any deficiencies or violations would not be exempted. Compliance with all legal obligations, including SEBI, FEMA, and Income Tax laws, was required post-confirmation. The order did not grant exemption from stamp duty, taxes, or other charges. Case-Laws Companies Law Mon, 04 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414415