https://www.taxtmi.com/caselaws?id=764492 NCLAT Principal Bench set aside lower tribunal's order and permitted appellant company's share capital reduction. The company passed special resolution with 100% shareholder majority for capital reduction and conversion to interest-bearing unsecured loans. No creditors, Regional Director, or Registrar of Companies objected to the proposal. Tribunal held companies have power to reduce share capital as domestic matter when no impediments exist. Appeal allowed, confirming special resolution dated 29.11.2022 for share capital reduction. en-us Mon, 06 Jan 2025 00:00:00 +0530 Sat, 11 Jan 2025 08:46:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764492 NCLAT Principal Bench set aside lower tribunal's order and permitted appellant company's share capital reduction. The company passed special resolution with 100% shareholder majority for capital reduction and conversion to interest-bearing unsecured loans. No creditors, Regional Director, or Registrar of Companies objected to the proposal. Tribunal held companies have power to reduce share capital as domestic matter when no impediments exist. Appeal allowed, confirming special resolution dated 29.11.2022 for share capital reduction. Case-Laws Companies Law Mon, 06 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764492