Reduction of issued, subscribed, and paid-up equity share ...

Company Reduces Equity Share Capital by Cancelling 4,044 Shares, Complies with Companies Act 2013, Sections 66(1)-(3).

August 29, 2024

Case Laws Companies Law Tri

Reduction of issued, subscribed, and paid-up equity share capital u/s 66 of the Companies Act, 2013. Compliance with Sections 66(1), 66(2), and 66(3) satisfied. Confirmed reduction of share capital by approving Special Resolution dated 10.08.2023 and Circular Board Resolution dated 08.11.2023, reducing issued, subscribed, and paid-up equity share capital from Rs.483,66,21,630/- consisting of 48,36,62,163/- equity shares of Rs. 10/- each to Rs. 483,65,81,190/- consisting of 48,36,58,119/- equity shares of Rs. 10/- each by cancelling and extinguishing paid-up equity share capital of Rs. 40,440/- divided into 4,044 equity shares of Rs. 10/- each held by non-promoter shareholders, representing approximately 0.00083% of total issued, subscribed, and paid-up equity share capital, for an aggregate consideration of Rs. 66,88,776/- determined at Rs. 1,654/- per equity share from free reserves. Copy of approved Minutes to be filed with ROC within 30 days. Order to be published in newspapers within 30 days as per Section.

View Source

← Previous Next →

Reduction of issued, subscribed, and paid-up equity share ...

Company Reduces Equity Share Capital by Cancelling 4,044 Shares, Complies with Companies Act 2013, Sections 66(1)-(3).

August 29, 2024

Case Laws Companies Law Tri

You may also like:

Short Term Capital Gain arising out of transfer of equity shares - FCCBs/GDRs which were subsequently converted to equity shares - cost of acquisition of underlying...

Capital gain - transfer of a capital asset by assessee to its subsidiary company - There are different shareholders of preference share capital other than the holding...

Addition u/s 56(2)(viib) - valuation under Rule 11UA (2) - Even if preferential shares and equity shares are considered to be falling within the purview of Section...

Reduction of share capital - Even though the public shareholders/non promotor shareholders had objected to the reduction of share capital in the EGH but the majority...

Treaty benefits - ‘gains from alienation of shares' - taxability or otherwise of capital gain from sale of equity shares under Article 13(4) of India-Mauritius DTAA -...

Conversion of partly up equity shares into fully paid-up equity shares - the board of directors are well within the powers to make a call on the shareholders in respect...

Addition u/s. 56(2)(viib) - premium on issue of shares of the company - since the company was incorporated on 07.11.2012 and cut off date of valuation of share was 16.11....

Companies (Listing of equity shares in permissible jurisdictions) Rules, 2024 - Amendment in various rules.

Bogus STCG or not - Since the source of purchase has been disputed as the registration of broker was cancelled much before the transaction of purchase made by the...

Reduction of share capital - the Company has complied with all the statutory requirements as per the directions of the Tribunal and has also filed necessary Affidavits...

Assessee company successfully proved genuineness of share capital and share premium received from various private limited companies. Creditworthiness and identity of...

The ITAT held that u/s 56(2)(viib), addition on premium amount in excess of FMV for issuing Optional Convertible Preference Shares to holding company is unsustainable....

Income derived from the sale of equity shares - business income or Long Term Capital Gain - the said equity shares not only for one year but for more than 16 years and...

Receipt of bonus share - investments or stock in trade - original shares were part of stock in trade - bonus shares given by company in proportion to the holding of...

Short Term capital Gains - Transfer / Conversion of Redeemable Cumulative Convertible Preference Share and Fully Compulsory Convertible Preference Shares to equity...

Quick Updates: