Companies Act, 1956
Section - 101 - Application to Tribunal for confirming order, objections by creditors, and settlement of list of objecting creditors
Application to [Tribunal] for confirming order, objections by creditors, and settlement of list of objecting creditors.101. (1) Where a company has passed a resolution for reducing share capital, it may apply, by petition, to the [Tribunal] for an order confirming the reduction.(2) Where the proposed reduction of share capital involves either the diminution of liability in respect of unpaid share capital or the payment to any shareholder of any paid-up share capital, and in any other case if the [Tribunal] so directs, the following provisions shall have effect, subject to the provisions of sub-section (3):— (a) every creditor of the company who at the date fixed by the [Tribunal].... To read the full section download the app from Google Play store
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