Companies Act, 2013
Section - 66 - Reduction of share capital
Reduction of share capital.66. (1) Subject to confirmation by the Tribunal on an application by the company, a company limited by shares or limited by guarantee and having a share capital may, by a special resolution, reduce the share capital in any manner and in particular, may-
| (a) | - | extinguish or reduce the liability on any of its shares in respect of the share capital not paid-up; or |
| (b) | - | either with or without extinguishing or reducing liability on any of its shares,- |
| (i) | - | cancel any paid-up share capital which is lost or is unrepresented by available assets; or |
| (ii) | - | pay off any paid-up share capit .... To read the full section download the app from Google Play store
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