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2015 (6) TMI 1224 - HC - Companies LawReduction of share capital - Sections 100 to 104 of the Companies Act, 1956 (read with Rule 46 of the Companies (Court) Rules, 1959 - HELD THAT:- This Court is of the opinion that there can be no legally sustainable objection for approving the reduction of share capital in terms of Article 57 of the Articles of Association, which enables the company to reduce the share capital, more so, when the reduced share capital is resulting in repaying the share value to the shareholders at a premium of ₹ 11.50ps per share. The Company Petition is allowed by approving the reduction of share capital of the petitioner company as per the form of Minute proposed to be registered - Application allowed.
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