Circumstances when Court to sanction proposal for reduction of capital

HIGH COURT OF GUJARAT Radhe Developers (India) Ltd. In re COMPANY PETITION NO. 117 OF 2011 SEPTEMBER 12, 2012 ORDER 1. The petitioner Company has filed the present petition under sections 100 and 101 of the Companies Act, 1956 (“the Act” for short), seeking confirmation and sanction of this Court to the reduction of the equity share capital of the Company as approved by the Shareholders of the Company in their meeting held on 27.08.2010. 2. The petitioner submits that Article 8 of the Articles of Association of the Company permits the reduction of its share capital...