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2021 (10) TMI 716 - Tri - Companies LawReduction of share capital - section 66 of the Companies Act, 2013 - HELD THAT:- The Regional Director, Northern Region, Ministry of Corporate Affairs, New Delhi, after receiving the report from the Registrar of Companies, has filed his report dated 12.03.2021. On perusal of the representation, the Regional Director has no objection to the extent of proposed scheme of reduction in share capital of the Applicant company - Notice was duly served on the Income Tax Department; despite several opportunities no one has appeared for the Income Tax Department. This tribunal vide order dated 26.07.2021 directed the applicant company to file an affidavit denoting that they are tax compliant and if any demand is raised by the Income Tax Department, with regard to any dues or arrears of Income Tax, the applicant company will make good the same as per law. That the reduction of the Equity share capital of the above company, as resolved by the resolution passed at the Extra Ordinary General meeting held on the 24.08.2020, is allowed - Application allowed.
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