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NCLT Approves ₹8,000 Crore Share Capital Reduction of General Motors
Case Law Details
- Case Name
- In re General Motors India Private Limited (NCLT Chandigarh)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLT
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In re General Motors India Private Limited (NCLT Chandigarh)
General Motors India Private Limited filed an application under Section 66 of the Companies Act, 2013, seeking confirmation from the NCLT Chandigarh for the proposed reduction of its issued, subscribed and paid-up equity share capital. The company stated that it had incurred substantial operating losses over several financial years due to prolonged decline in demand for its products and various market-related factors, resulting in significant accumulated losses and erosion of net worth.
As on 31.03.2025, the company had accumulated l...
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