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2021 (5) TMI 74 - Tri - Companies LawReduction of capital of the petitioner - Section 66 of the Companies Act, 2013 - HELD THAT:- The Authorized Share Capital of the Company is ₹ 1,50,00,000 divided into 15,00,000 Equity Shares of ₹ 10 each, which have been issued and have been fully paid-up or credited as fully paid. In compliance of the requirements of proviso to sub section 1 of Section 66 of the Companies, Act, 2013 the petitioner has filed a declaration dated 07.11.2020 affirming that the Petitioner Company as on date has not accepted any deposits and accordingly there is no arrears or repayment due with respect to deposits - Besides the certificate of statutory auditor dated 05.11.2020 has been placed on record which certifies that the accounting treatment proposed by the Company for the reduction of share capital is in conformity with the accounting standards specified under Section 133 or any other Provisions of the Act. Since all the requisite statutory procedures have been fulfilled and no objections received from the governmental authorities or any shareholders before this Tribunal, the Company Petition is made absolute and therefore the proposed reduction can be confirmed by passing order in terms of Rule 6 of the Rules - As per Section 66 (5) of Companies Act, 2013 the petitioner company shall deliver a certified copy of this order under section 66(3) and the minute as approved to the Registrar of Companies within 30 days of receipt of the order. The Registrar of Companies shall issue a certificate of Registration of Order and Minute in Form RSC-7 of The National Company Law Tribunal (Procedure for Reduction of Share Capital of Company) Rules, 2016 - All concerned regulatory authorities to act on certified copy of order duly certified by the Deputy Registrar or Assistant Registrar of this Tribunal. Petition disposed off.
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