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NCLT Allows Share Capital Reduction for Exit Opportunity to Minority Shareholders
Case Law Details
- Case Name
- In re Sai Service Private 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 Sai Service Private Limited (NCLT Mumbai)
The National Company Law Tribunal (NCLT) considered a petition filed by Sai Service Private Limited seeking confirmation of a special resolution approving reduction of its share capital under Section 66 of the Companies Act, 2013. The proposal contemplated cancellation of up to a maximum of 11 equity shares, representing approximately 0.67% of the company’s issued, subscribed and paid-up equity share capital, together with cancellation of fractional shares held in the Share Suspense Account. The reduction applied to eligible shareholders ho...
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