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2015 (5) TMI 238 - HC - Companies LawPetition for confirming the reduction of the share capital under Sections 100 to 104 of the Companies Act, 1956, read with Rules 11(a)(3), 46 and 47 of the Companies (Court) Rules, 1959 - Confirming the reduction of the share capital of the Petitioner by setting off the accumulated losses as approved in terms of special resolution passed by the shareholders of the Petitioner - Held that:- The Regional Director, Southern Region, Ministry of Corporate Affairs, Chennai, has filed an affidavit, wherein, in paragraph No.6, he has pointed out that the petitioner company is regular in filing their statutory returns and no prosecution filed, no complaints pending and no inspection has been conducted. It is further stated in paragraph No.8, that the scheme of reduction of share capital has been examined and has been decided not to make any objection to the scheme. The same is recorded. In view of the above, this Company Petition is ordered with confirming the reduction of the share capital of the Petitioner company by setting off the accumulated losses as approved in terms of special resolution passed by the shareholders of the Petitioner on 30th December 2014. Also dispensing with the words And Reduced pursuant to the adjustment in the share capital and approving the action taken. - Petition for confirming the reduction of the share capital approved.
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