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2015 (3) TMI 1396 - KARNATAKA HIGH COURTPermission to reduce the capital and the Securities Premium Account as resolved by the Extraordinary General Meeting - HELD THAT:- Presently, in view of the decision to reduce the share holdings such of those public minority share holders who have not objected to receiving their share money would be paid and such of public minority shareholders who have opted to retain their holdings shall be continued as shareholders of the petitioner company. Hence, the object of the reduction of share holding is achieved by the decision taken by the petitioner company. The petition is allowed and reduction of capital as resolved at the Extraordinary General Meeting held on 13.01.2015 which reads as hereunder is confirmed - Form of minutes under Section 103(1) of the Act as set out below is approved.
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