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Court Approves Share Capital Reduction Without Creditor Settlement Under Companies Act Section 101(2) and (3) Exemption.

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....Reduction of paid up share capital seeked - the procedure stipulated in Section 101(2) and (3) of the Companies Act, 1956, for the settlement of list of creditors will not apply. The prayers sought for in this petition are granted and the petition is allowed. - HC....

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