https://www.taxtmi.com/caselaws?id=303600 The court approved the reduction of the company's share capital from Rs. 285,00,00,000 to Rs. 41,83,39,250, as proposed in a Special Resolution passed at an Extra Ordinary General Meeting. The reduction involved canceling specific equity and preference shares, adjusting against the Profit & Loss Account, and providing cash consideration to shareholders. With no secured creditors and the consent of unsecured creditors, the court found that the reduction would not adversely affect any creditors or the company's operations. The court's approval ensured compliance with statutory provisions and internal regulations, validating the company's lawful reduction of share capital. en-us Fri, 01 Jul 2016 00:00:00 +0530 Tue, 18 Apr 2023 12:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303600 The court approved the reduction of the company's share capital from Rs. 285,00,00,000 to Rs. 41,83,39,250, as proposed in a Special Resolution passed at an Extra Ordinary General Meeting. The reduction involved canceling specific equity and preference shares, adjusting against the Profit & Loss Account, and providing cash consideration to shareholders. With no secured creditors and the consent of unsecured creditors, the court found that the reduction would not adversely affect any creditors or the company's operations. The court's approval ensured compliance with statutory provisions and internal regulations, validating the company's lawful reduction of share capital. Case-Laws Companies Law Fri, 01 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303600