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NCLT Mumbai Approves Share Capital Reduction Under Section 66 Despite RD Objections
Case Law Details
- Case Name
- In re Sarjan Realities 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 Sarjan Realities Private Limited (NCLT Mumbai)
The National Company Law Tribunal (NCLT), Mumbai Bench, in In re Sarjan Realities Private Limited, allowed the company’s petition under Section 66 of the Companies Act, 2013 for confirmation of reduction of its equity and preference share capital. The company proposed the reduction to simplify its capital structure, provide an exit to certain shareholders, realign ownership, improve key financial ratios, and utilize its available cash balance. The proposal involved cancellation of the entire preference share capital co...
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