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NSE Academy Wins NCLT Approval for ₹241.32 Cr Share Capital Reduction
Case Law Details
- Case Name
- In re NSE Academy Limited (NCLT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLT
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In re NSE Academy Limited (NCLT Mumbai)
The National Company Law Tribunal (NCLT), Mumbai Bench, allowed a petition filed by NSE Academy Limited under Section 66 of the Companies Act, 2013 seeking confirmation of a special resolution for selective reduction of its paid-up preference share capital. The company proposed reducing its paid-up share capital by ₹241.32 crore out of its total paid-up capital of ₹251.32 crore. The company explained that the preference share capital had originally been raised to fund business operations and investments in its erstwhile subsidiary and step-down subsi...
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