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Companies Law - Highlights / Catch Notes

Home Highlights July 2022 Year 2022 This

Reduction of share capital - the Company has complied with all ...

Companies Law

July 30, 2022

Reduction of share capital - the Company has complied with all the statutory requirements as per the directions of the Tribunal and has also filed necessary Affidavits to that effect. It is also pertinent to mention that none of the Creditors objected to the reduction of the Capital. Section 66(1)(b) of the Act enables a Company to reduce its Share Capital ‘in any manner’ provided it is approved by the majority of Shareholders through a Special Resolution. - appeal allowed - AT

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