It won't have debit balance. You'll transfer only to the extent of balance in Capital Reduction A/c. None of the court approvals can be obtained if the internal reconstructions are such that write downs by liability, capital are inadequate to cover up the losses.
Just visualize a Creditor to whom Rs.100 is payable (Credit Balance). Will you pay more than Rs.100? No. The same way, Capital Reduction will be transferred to Cap Res only to the extent of balance available.
Therefore, never will Capital Reserve on the Debit Side.