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2020 (8) TMI 463 - Tri - Companies LawReduction of Share Capital - the equity shares of the petitioner-company were delisted from stock exchange - the company petition was filed for providing the non-promoter public shareholders an opportunity to liquidate their shareholding at a fair and equitable price. - HELD THAT:- In the present case, we have found no patent unfairness in the valuation report obtained by the petitioner-company. The proposed capital reduction has in fact also been approved by a majority of the non-promoter public shareholders. The petitioner-company to publish the notices about registration of order and minutes of reduction by the concerned Registrar of Companies Mumbai, Maharashtra in two newspapers namely i. e., "Financial Express" Mumbai edition in English language and translation thereof in "Loksatta" in Marathi language both having circulation in Mumbai within 30 days of registration. The petitioner-company undertakes to file certified/authenticated copy of the order and form of minutes duly certified by the Deputy Director or Assistant Registrar, National Company Law Tribunal, Mumbai Bench with the Registrar of Companies within 30 days of receipt of this order - Application for the reduction of share capital allowed subject to the directions given. Application for the reduction of share capital allowed.
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