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NCLT Allows Selective Share Capital Reduction for Delisted Company
Case Law Details
- Case Name
- In re Fairfield Atlas 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 Fairfield Atlas Limited (NCLT Mumbai)
The National Company Law Tribunal (NCLT) considered a petition filed by Fairfield Atlas Limited seeking confirmation of a special resolution passed by its equity shareholders for reduction of its issued, subscribed and paid-up equity share capital under Section 66 of the Companies Act, 2013. The petition proposed reducing the company’s paid-up equity share capital from 2,73,20,540 fully paid equity shares of ₹10 each to 2,68,75,121 fully paid equity shares of ₹10 each by cancelling and extinguishing 4,45,419 equity shares h...
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