https://www.taxtmi.com/caselaws?id=305140 The National Company Law Tribunal (NCLT) confirmed the reduction of share capital of the Applicant Company from Rs. 1,07,68,090 to Rs. 43,48,470, following a special resolution passed by shareholders. The NCLT approved the reduction by canceling shares held by non-promoter shareholders. The tribunal directed necessary alterations in the Memorandum of Association and outlined compliance requirements for the Applicant Company. This decision came after addressing issues related to the consideration of an affidavit by the Regional Director, valuation methods, compliance with SEBI regulations, and the appointment of an independent valuer as per SEBI guidelines. en-us Wed, 18 Sep 2019 00:00:00 +0530 Wed, 19 Apr 2023 18:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305140 The National Company Law Tribunal (NCLT) confirmed the reduction of share capital of the Applicant Company from Rs. 1,07,68,090 to Rs. 43,48,470, following a special resolution passed by shareholders. The NCLT approved the reduction by canceling shares held by non-promoter shareholders. The tribunal directed necessary alterations in the Memorandum of Association and outlined compliance requirements for the Applicant Company. This decision came after addressing issues related to the consideration of an affidavit by the Regional Director, valuation methods, compliance with SEBI regulations, and the appointment of an independent valuer as per SEBI guidelines. Case-Laws Insolvency and Bankruptcy Wed, 18 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305140