https://www.taxtmi.com/caselaws?id=416253 The Tribunal confirmed the reduction of share capital for a company engaged in the business of cutting tools. The reduction involved extinguishing 7,255 shares held by pre-identified equity shareholders, with each holding less than 181 equity shares. The Tribunal noted compliance with relevant provisions of the Companies Act, 2013, and approved the reduction as fair and non-discriminatory. The company provided evidence of compliance, statutory approvals, and obtained a certificate from the statutory auditor aligning with accounting principles in India. The Tribunal granted the petition, directing regulatory authorities to formalize the reduction of share capital. en-us Wed, 10 Nov 2021 00:00:00 +0530 Fri, 24 Dec 2021 08:46:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416253 The Tribunal confirmed the reduction of share capital for a company engaged in the business of cutting tools. The reduction involved extinguishing 7,255 shares held by pre-identified equity shareholders, with each holding less than 181 equity shares. The Tribunal noted compliance with relevant provisions of the Companies Act, 2013, and approved the reduction as fair and non-discriminatory. The company provided evidence of compliance, statutory approvals, and obtained a certificate from the statutory auditor aligning with accounting principles in India. The Tribunal granted the petition, directing regulatory authorities to formalize the reduction of share capital. Case-Laws Companies Law Wed, 10 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416253