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2009 (1) TMI 490 - HIGH COURT OF KARNATAKAReduction of paid-up equity share capital and securities premium account - Held that:- As the action of the company is approved in the general meeting of the shareholders and no one has opposed the said action, hence, the resolution passed by the company is for the benefit of the company, its shareholders and creditors and is not contrary to law. Reduction of the securities premium account and paid-up equity share capital of the petitioner-company allowed.
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