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2022 (4) TMI 946 - Tri - Companies LawReduction of share capital of the Petitioner Company - Section 66 of the Companies Act, 2013 - HELD THAT:- It is seen that the Regional Director has stated in its report that after going through the Scheme of Reduction of Capital, the Regional Director has decided not to make any objections to the Scheme. Upon memo of clarification having been filed by the petitioner for the clarification sought regarding Reserves and Surplus; Cash and Cash Equivalents, this Tribunal is of the view that it is just and proper to confirm the Reduction of Share Capital of the Petitioner Company as resolved by the members of the Company by passing a special resolution and by way of consents in the form of Affidavits, This Tribunal also approves the proposed form of minutes to be registered under Section 66(5) of the Companies Act, 2013. While approving the Reduction of Share Capital as above, it is clarified that this Order should not be construed as an order in any way granting exemption from payment of stamp duty, taxes or any other charges, if any payment is due or required in accordance with the law or in respect of any permission/compliance with any other requirement which may be specifically required under the law. Further, all compliances as are required to be done by the Petitioner Company upon this order confirming reduction of share capital and security premium reserve shall be duly complied with in relation to SEBI, FEMA and Income Tax Laws, as may be applicable. Petition allowed.
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